The Scheme was launched at Thiruvananthapuram on December 18, 2002 by the then General Secretary of Canara Bank Employees’ Union Com A N Balasubramanian, as per the decision taken at the 21st Conference held at Chennai from 5th to 8th January 2002.

The Rules and Regulations for the Scheme were formulated by the Central Committee held at Goa on 29th and 30th June 2002.The seeds for such a glorious Scheme were sown in the soil of Kerala very much earlier and crystallised with comrades from Delhi providing actuarial inputs.

The Scheme was launched with a humble refundable contribution of Rs. 50 / -per month per member and was initially providing a lumpsum relief of Rs. 30, 000 / -to the nominee of a deceased member.Over the years, the lumpsum relief has been enhanced to the present level of Rs. 1, 00, 000 / -.The Scheme also gives monthly pension of upto Rs. 1250 / -to such eligible nominees.The present monthly contribution is Rs. 200 / -per member per month and is fully refundable at the time of retirement of the member.

We salute all the members of the Scheme, who have joined in a noble task of extending a helping hand to the families of our deceased colleagues.