Army signs MoU with Bank of Baroda for new ‘Baroda Military Salary Package’

• Indian Army has signed an MoU with Bank of Baroda for new 'Baroda Military Salary Package'

• Services under 'Baroda Military Salary Package' will be offered to serving and retired personnel of the Indian Army through the Bank's network

New Delhi: Indian Army and Bank of Baroda have entered into a memorandum of understanding (MoU) for 'Baroda Military Salary Package.' The MoU has been signed by Director General (MP&PS) Lt Gen Ravin Khosla and Bank of Baroda's (BoB) Executive Director Vikramaditya Singh Khichi 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 the Indian Army.

Services under 'Baroda Military Salary Package' will be offered to serving and retired personnel of the Indian Army through the Bank's network of over 8,200 domestic branches and around 20,000 business correspondent touchpoints.

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The package offers very attractive benefits 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.

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