SBI launches new product called Defence Salary Package for Air Force

State Bank of India, the country's largest bank, the only Indian Bank to feature in the world's top 50 banks and also the only Indian Bank to find a place in global Fortune 500 list, has today forged a stronger relationship with the Indian Air Force. Two of the oldest institutions in the country, have further strengthen their relationship.

SBI has today launched a new product called the Defence Salary Package – Air Force which offers a bundle of free/concessional services to the officers and other Air Force personnel. The package which includes free drafts, free Cheques books, free funds transfers to any of the State Bank Group's network of almost 16000 branches, free funds transfers to any bank in India through RTGS/NEFT, free ATM cards any many other 'attractive features", will be available to the DSP account holders even after retirement. SBI's FY 2010 plan to add 5000 ATMs to its existing count of 20000 will benefit more than one lac strong Indian Air Force as the Bank intends to locate a large number of ATMs to serve Air Force formations just as many of its branches are already located in difficult and arduous terrain. The Bank's network of Business Correspondents appointed in un-banked rural areas will also be available for the basic banking requirement of the Air Force Personnel and their families.

SBI's product the DSP – Air Force was launched formally today at the “AIR FORCE AUDITORIUM, SUBROTO PARK, NEW DELHI, jointly by the Chairman Shri O.P. Bhatt and the Air Chief Marshall P.V. NAIK, PVSM VSM, ADC. The launch was attended by the Air Force top brass from Air Force. & other Air Force personnel. 

A similar package was also signed with Army and Navy earlier.