Zero-balance bank account, Rs 5 lakh insurance for gig workers

Hyderabad: To support the financial inclusion of gig workers, Indian Bank introduced a zero-balance savings account for app-based cab and auto drivers, delivery workers, freelancers, and other digital workers.

Called the “IND-GIG CHAMPION,” the savings account will provide group personal accident insurance coverage of Rs 5,00,000 and a fully digital banking service.

Telangana Gig and Platform Workers Union (TGPWU) founding president Shaik Salauddin welcomed the initiative, calling it an essential financial security. “A free zero-balance savings account along with Rs 5 lakh accidental insurance coverage will provide much-needed protection and encourage greater financial inclusion. We thank Indian Bank for recognising the needs of gig workers and partnering with TGPWU in this important initiative.”