Bank of Baroda Signs MoU with Tamil Nadu Government For Salary Account

Bank of Baroda, one of India’s leading public sector banks, has entered into a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to offer a customised Salary account package for employees of the State Government, including employees of the Police, Forest, Fire & Rescue Departments. The newly launched Salary account package comes with comprehensive insurance coverage at zero cost to the employees, making it one of the most attractive offerings in the Banking sector.

The MoU was signed by Shri T.N. Suresh, General Manager & Zonal Head – Chennai Zone, Bank of Baroda and Smt. T Charusree, IAS, Commissioner of Treasury & Accounts, Government of Tamil Nadu, in the presence of Hon’ble Chief Minister of Tamil Nadu, Shri M. K. Stalin. On the occasion, Shri Thangam Thennarasu, Finance Minister; Shri N Muruganandam, IAS, Chief Secretary; Shri T Udhayachandran, Principal Secretary to Government, Finance Department and Shri Sreenivas Ravipati, Deputy General Manager - Chennai Zone, Bank of Baroda, were also present.

Speaking on the occasion, Shri T. N. Suresh, General Manager & Zonal Head - Chennai Zone, Bank of Baroda said, “We are pleased to have signed an MoU with the Government of Tamil Nadu. This collaboration will extend financial and insurance benefits to the employees of the State government, thereby supporting their financial aspirations and well-being. This package has been thoughtfully designed to provide extensive insurance cover to employees along with various other benefits like concessional interest rates with waiver in processing charges on Retail loans.”

Bank of Baroda’s customized Salary Account for Tamil Nadu State Government employees comes with   complimentary insurance benefits like Personal Accident Insurance with maximum coverage of ₹1.55 crore, Term Life Insurance coverage of ₹15 lakh, Permanent Total Disability Cover of up to ₹1 crore & Hospicash Facility of Rs 2000 per day for daily hospitalization.