Indian Overseas Bank has signed Memorandum of Understanding (MoU) on 19.05.2025 with the Tamil Nadu Government for TN State Government Salary Package (SGSP) in the presence of Hon’ble Chief Minister Shri. M.K.Stalin, Hon’ble Finance Minister Shri. Thangam Thennarasu, Chief Secretary Shri. N. Muruganandam IAS, Principal Secretary – Finance Shri. T Udhayachandran IAS, Secretary (Expenditure) Shri. S Nagarajan IAS and Director of Treasuries and Accounts Smt. T.Charusree IAS and IOB Executive Director Shri. Joydeep Dutta Roy.
The Indian Overseas Bank provides various other facilities to State Govt Employees with attractive packages, which includes Personal Accident Insurance cover up to Rs.120.00 Lakhs, Group Term Life Insurance cover of Rs.10 lakh, Nil minimum balance, Free issuance of ATM Card with Rs.2.00 Lakhs PAI cover, Unlimited ATM usage in all ATM, concession in processing charges and interest rate for retail loans etc., under TN State Government Salary Package (SGSP).