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MoU Between Indian Army and Axis Bank

Capital Market 

A Memorandum of Undertaking (MoU) was signed between the Indian and on the Defence Salary Package on 13 Apr 2018. The first MoU between and the Indian was signed in 2011 and was renewed on 24 Mar 2015.

The current MoU is tailor-made to suit the requirements of serving soldiers, pensioners and families.

The signing-in ceremony was chaired by the (MP&PS), Lt Gen SK Saini and was attended by the top dignitaries of headed by Mr Sanjay Sailas, President and Head, Retail Banking, Axis Bank.

Recently, Indian has also signed a MoU with MoUs are considered for inception and renewal with banks on analyzing their utility and suitability to the requirements of serving soldiers, pensioners and families. Army is hoping that this MoU will benefit a large number of serving and retired Army personnel who are having their accounts with Axis bank; and also provide them an opportunity to

Under the current MoU, apart from other benefits, the Army personnel will get free personal accident death cover and free permanent total disability cover of Rs 30 lakh and free educational cover of up to Rs 2 Lakh for children between the age of 12 and 20 years.

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

First Published: Fri, April 13 2018. 17:44 IST