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Indian Army signs MoU with SBI on salary package

ANI  |  New Delhi [India] 

The on Thursday signed a Memorandum of Understanding (MoU) with the on defence salary package.

The first between SBI and the was signed in 2011 and was renewed on 23 February, 2015. According to Indian Army, the revised is tailor-made to suit the requirements of serving soldiers, pensioners and their families.

"A number of additional facilities have been incorporated in the revised which include free personal accident death cover, free permanent total disablement cover and other accidental benefits to the deceased soldier and family. This MoU will benefit a large number of serving and retired Army personnel who are having their accounts with SBI. The MoU will be valid till 3 January, 2019 and continuation thereafter will be subject to review/renewal," the said in a statement.

The signing-in ceremony was chaired by Lt Gen and was attended by top officials of SBI headed by Shri PK Gupta, (Retail and Development Banking), SBI.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 12 2018. 18:45 IST