SBI Insurance Claim: SBI Settles ₹40 Lakh Accident Claim for a Nominal ₹2,000 Premium in Gonda
BUSINESS DESK, GONDA (June 12, 2026):
In a remarkable display of customer-centric service and commitment to financial security, the State Bank of India (SBI) has swiftly settled a major insurance claim in Uttar Pradesh. The Agri-Commercial Branch of SBI in Gonda successfully processed and handed over a personal accident insurance claim of ₹40 lakh to the nominee of a deceased customer, providing crucial financial backing to the grieving family in their time of need.
Securing the Future at Just ₹2,000 Annual Premium
According to official sources, the deceased customer, Mr. Mohammad Faiz, was a respected account holder at SBI's Gonda branch. He had smartly secured his family's future by opting for a Personal Accident Insurance Policy under SBI General Insurance.
The most noteworthy aspect of this policy was its affordability, as Mr. Faiz had been maintaining this substantial ₹40 lakh cover by paying a highly economical annual premium of just ₹2,000. Tragically, Mr. Mohammad Faiz recently lost his life in an unfortunate road accident, leaving his family emotionally devastated and facing sudden uncertainty.
Top Bank Officials Hand Over the ₹40 Lakh Cheque
Following the untimely demise of the breadwinner, his wife and registered nominee, Smt. Siba Bano, submitted the necessary claim documents to the bank. Recognizing the gravity and sensitivity of the situation, the SBI management fast-tracked the verification and paperwork to ensure minimum waiting time for the beneficiary.
In a brief event held at the bank premises, Shri Jai Prakash Ojha (Regional Manager, SBI, RBO-Gonda) along with Shri Vikas Yadav (Branch Manager) jointly handed over the final settlement cheque of ₹40,00,000 (Forty Lakh Rupees) to Smt. Siba Bano.
SBI’s Ongoing Commitment to Customer Welfare
Speaking on the occasion, Regional Manager Shri Jai Prakash Ojha emphasized the unpredictable nature of life and highlighted how a small, timely decision regarding financial planning can act as a shield for families during unforeseen crises. He remarked that a ₹40 lakh financial cushion generated from a mere ₹2,000 annual expenditure is a testament to the efficacy of the bank's micro-insurance schemes.
Branch officials further reiterated that the prompt and completely transparent settlement of this claim mirrors SBI's core philosophy of prioritizing the welfare, social security, and robust financial protection of its massive customer base and their dependents across the nation.