SBI to Waive Outstanding Loan of 23 CRPF Soldiers; Expedite Release of Insurance Money to Next of Kin
Moneylife Digital Team 18 February 2019
State Bank of India (SBI) has announced a special initiative for the Central Reserve Police Force (CRPF) soldiers who martyred in a dreadful terrorist attack in Pulwama in Jammu & Kashmir (J&K). This includes expediting release of insurance money to next kin of the martyred soldiers and waiving off loans of 23.  
 
In a statement, the lender says, "All the CRPF soldiers were customers of the Bank under defence salary package where the Bank provides insurance of Rs30 lakh to each of the defence personnel. Bank is taking steps to expedite release of insurance money to the next of kin of the martyred soldiers."
 
"23 soldiers had also availed of loans from the Bank and the Bank has decided to waive off all the outstanding loans with immediate effect," SBI added.
 
Rajnish Kumar, chairman of SBI said, "It is extremely distressing and disturbing to witness the loss of lives of the Soldiers who always stand for safety of our country. In this moment of grief, our sincere thoughts are with the families of our brave hearts. These initiatives by the Bank is a small gesture towards the families who have faced irreparable loss."
 
The lender has also made an appeal to all its employees to voluntarily contribute towards the cause through Bharat ke Veer, https://bharatkeveer.gov.in, a dedicated portal from the Union Home Ministry.
 
SBI has also created a UPI for the Bharat Ke Veer initiative to help people make their monetary contributions easily.   
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