ESIC Signs an Agreement with SBI

Employees’ State Insurance Corporation(ESIC) signed Memorandum of Agreement (MoA) with State Bank of India for direct transfer of benefits electronically into bank accounts of all stakeholders.

As per an agreement signed between the two, SBI will provide e-payment services directly to bank accounts of all ESIC beneficiaries and payees without any manual intervention as an integrated and automated process through its cash management product e-payment technology platform.

Static/Current Takeaways Important For RRB Main 2019:

• Director-General of ESIC: Rajkumar; Chairman of SBI: Rajnish Kumar.

Source: The Economics Times