In the reference cited above, as per the Budget Speech for the financial year 2025-26, the Hon'ble Minister of Finance had announced that banks have agreed to provide certain benefits to State Government la employees, including term and accidental insurance policies. Additionally, special entoncessions on specific loan products will also be extended to government employees.
The empanelled banks maintaining employee salary accounts have agreed to provide minimum benefits of Rs. 10 Lakh as Term life insurance Hobs coverage and Rs. 100 Lakh as Personal Accident Insurance Coverage to Government employees. Further, in case of death of employee due to personal accident, the children of the employee will be provided with educational EitallNesistance and unmarried daughters will be provided marriage assistance with a condition that the banks shall provide the above assistance/ coverage /benefits to the Government employees without any cost to the employees.
At this juncture, it is heart-warming to note that after various deliberations and discussions held between the Government of Tamil Nadu and the empanelled banks, the Memorandum of Understanding (MoU) was finalised and signed between the Government and the following seven Banks namely
