CHENNAI: Bank of Baroda has signed an MoU with the government to roll out tailored salary accounts for government employees, offering insurance and financial benefits free of cost.
The agreement was formalised by TN Suresh, GM and head of Chennai Zone at Bank of Baroda, and T Charusree, Commissioner of Treasury and Accounts.
Benefits include personal accident insurance with coverage up to Rs 1.55 crore, term life insurance of Rs 15 lakh, and permanent total disability cover of up to Rs 1 crore.
TN also inked pact with State Bank of India, Indian Bank, IOB, Canara Bank, Axis Bank and Union Bank of India to provide government staff accident and life insurance coverage.