The Association of Scientific and Technical Officers of ONGC has signed a Memorandum of Understanding (MoU) with HDFC Bank Limited, one of India's largest private sector banks. The MoU was signed on 28 April 2022 at Deendayal Urja Bhawan in New Delhi. This MOU will enable ONGC to open exclusive salary accounts for its employees that will be equipped with an additional complimentary cover, especially for those working in offshore field operations.

The MoU was signed in the presence of ONGC Director (Finance) Pomila Jaspal, ASTO-CWC President Amit Kumar, Branch Banking Head-North-HDFC Bank Arun Mendiratta, Zonal Head Rishi Goyle and other senior officials of HDFC Bank.

The ONGC-HDFC MoU: ONGC Director (Finance) Pomila Jaspal (center), ASTO-CWC President Amit Kumar (left),
Banking Head-North-HDFC Bank Arun Mendiratta (right), Zonal Head Rishi Goyle and other senior officials of HDFC Bank

Delivering her thoughts on the occasion, ONGC Director (Finance) Pomila Jaspal said that the new salary account will be opened for the personal convenience of all employees of ONGC.

“Our employees are our assets and it is of utmost importance that we take care of them, especially those working in rigs and other offshore installations, in a bid to boost the overall performance of our organization,” Ms Jaspal added.

Director (Finance) thanking HDFC for bringing up this initiative that aims to benefit ONGCians with several advantages

The exclusive Corporate Salary Accounts are lifetime free zero balance accounts that have an extended withdrawal limit of Rs 1 lakh per day. It also gives a permanent and partial disability cover up to Rs 30 lakh and an education benefit worth Rs 4 lakh to the dependent child in case of accidental death of the primary account holder.

The MoU is initially valid only for the employees of ONGC as of now but once it is a success, the initiative will be extended to the sub-contractors so that everyone working with the organization get connected and utilize its potential.