NEW DELHI, Dec 22: The Bank of Baroda has offered several enhanced banking services to the serving and retired personnel of the Indian Army through its 8,200 domestic branches and over 20,000 business correspondent touch-points.
A Memorandum of Understanding (MoU) was signed between the Indian Army and Bank of Baroda for the “Baroda Military Salary Package” on Tuesday. The MoU was signed by Lt Gen Ravin Khosla, DG(MP&PS) and Vikramaditya Singh Khichi, Executive Director, Bank of Baroda in presence of Lt Gen Harsha Gupta, Adjutant General, Indian Army who also chaired the meeting.
The MoU lays down the basis on which banking services would be provided by Bank of Baroda to serving and retired personnel of Indian Army.
Under the package, the bank would offer benefits to army personnel including free Personal Accidental Insurance cover, Permanent Total Disability cover, Partial disability Cover and Air Accident Insurance Cover of sizeable amounts, as well as Higher Education Cover and Girl Child Marriage Cover on death in case of serving personnel.
Other offerings under the package include unlimited free ATM transactions at all bank ATMs, waivers or concessions on various service charges in retail loans, free remittance facility through RTGS/NEFT, free Demand Draft/Banker’s Cheque, substantial discount in locker rentals, and various additional benefits in usage of Cards, according to a central government official release.
(Manas Dasgupta)