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ICICI Bank to bear cost of COVID-19 vaccinations for employees and their families

Other companies including Infosys, Capgemini, Flipkart, TVS Motor Company, and ReNew Power have also committed free vaccines to their employees and their immediate family members.

March 10, 2021 / 01:40 PM IST
Image: Reuters

Image: Reuters

ICICI Bank joined the club of several other companies including Accenture, TCS, Reliance among others to provide COVID-19 vaccination for its employees and their immediate family members free of cost.

ICICI Bank said that it will reimburse the cost of the two mandated vaccine shots for its employees and their dependent family members. It said that the initiative is aimed at safeguarding the lives of its employees and their dependent family members from the Covid19 pandemic.

“ICICI Bank truly appreciates and recognises the efforts showcased by all its employees during the ongoing pandemic," said Mr T.K. Srirang, Group Chief Human Resources Officer, ICICI Bank Team in a statement.

"ICICI has time and again emerged with renewed strength and responded to their call of duty to serve the nation as an essential service. They have been inspiring throughout the tough times of the recent pandemic with their unbreakable spirit and passion towards service."

He added that the welfare and well-being of the employees and their families are of utmost importance and the bank has undertaken this initiative to safeguard each one of its employees and their family members against the COVID-19 pandemic.

COVID-19 Vaccine

Frequently Asked Questions

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How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

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The country launched its vaccine drive on January 16 inoculating the healthcare workers and other frontline workers in the first phase. Currently, in the second phase, citizens above the age of 60 years and those over 45 years with comorbidities can get vaccinated.

The vaccine is available for free at all government hospitals while private hospitals can levy a charge of up to Rs 250.

ALSO READ: Reliance Industries to cover COVID-19 vaccination costs of employees, families

Other companies including Infosys, Capgemini, Flipkart, TVS Motor Company, and ReNew Power have also committed free vaccines to their employees and their immediate family members.

Moneycontrol News
first published: Mar 10, 2021 11:49 am