MADURAI: The Indian Overseas Bank by-pass road branch here presented two cheques of Rs.1 lakh each to the dependents of two bank account holders here on Wednesday.
According to a press note, the branch had collected Rs nine as annual premium from its 15,000 customers under the personal accident insurance scheme.
Recently, two of the bank account holders – Mariappan, a conductor with TNSTC Thirumangalam branch and A. Kasammal, a pensioner had died.
The legal heirs Rejina Devi and P. Pandi received the cheques.
The IOB senior regional manager K. V. Krishnan presided. Chief Manager Suryaprakasam welcomed the gathering.
TNSTC (Madurai Division) Managing Director P.P. Rajendran presented the cheques to the legal heirs.
Various transport unions office-bearers including S. Swaminathan, Jayakodi, S. Sampath and G. Rajendran lauded the initiative of the bank for such a welfare scheme which helped the dependents of the account holders in the event of death.
The by-pass road Branch manager D. Chandrasekaran proposed vote of thanks.
The salient features of the personal accident insurance scheme were highlighted at the function, the press note said.