In a significant move aimed at enhancing employee welfare, the Tamil Nadu government on Monday signed Memoranda of Understanding (MoUs) with six government banks to provide free insurance coverage and financial concessions to State government employees who maintain salary accounts with these banks.
The MoUs were signed at the Secretariat in Chennai in the presence of Chief Minister M. K. Stalin. The participating banks include State Bank of India, Indian Overseas Bank, Indian Bank, Canara Bank, Bank of Baroda, and Union Bank of India.
This initiative fulfils a commitment made during the recent State Budget, in which Finance Minister Thangam Thennarasu announced that banks hosting government employee salary accounts had agreed to extend a variety of benefits free of cost to employees and their families.
As part of the agreement, eligible employees will receive insurance coverage, loan concessions, waiver of processing charges, and other exclusive financial benefits, without any additional charges. The move is expected to positively impact thousands of government employees across the state.
This collaboration underscores the Tamil Nadu government’s efforts to promote financial well-being and security for its workforce by leveraging institutional partnerships with public sector banks.
