Welfare MoU Between State and Banks

Tamil Nadu Signs MoU with Banks to Provide Free Insurance for Government Employees: In a major welfare initiative, the Tamil Nadu government has signed Memorandums of Understanding (MoUs) with seven prominent banks to provide free insurance and financial aid to state government employees. This step reinforces the state’s vision of securing the social and economic well-being of its public workforce.

Partner Banks and Coverage

The MoUs were signed with State Bank of India, Indian Bank, Indian Overseas Bank, Canara Bank, Axis Bank, Bank of Baroda, and Union Bank of India. These banks will offer insurance benefits without charging the government or employees, extending a vital safety net for their families in times of hardship.

Key Features of the Insurance Scheme

Under this scheme, Tamil Nadu government employees are eligible for a wide range of benefits:

• ₹1 crore accident cover for death or permanent disability.
• ₹5 lakh marriage assistance for the daughter of a deceased employee.
• ₹10 lakh educational support for two daughters of an employee who dies in an accident.
• ₹10 lakh term insurance in the event of natural death while in service.

A Model for Inclusive Governance

This insurance initiative is a testimony to Tamil Nadu’s commitment to inclusive governance. By collaborating with national and private banks, the government has ensured that financial aid reaches families quickly during crises, reaffirming its dedication to public servant welfare and family security.

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Tamil Nadu Signs MoU with Banks to Provide Free Insurance for Government Employees: