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Indian Army and Axis Bank Signed MoU on 13th April 2018
Indian Army and Axis Bank Signed MoU on 13th April 2018- Details, Features, Benefits
The Indian Army and Axis Bank have signed a Memorandum of Undertaking (MoU) for Defence Salary Packages on 13th April 2018 in New Delhi.
The Indian Army and Axis Bank have signed this MoU to renew previous MoU which was first signed in 2011 and later renewed on 24th March 2015.
The MoU signed is made to meet requirements of serving soldiers, pensioners/retired and families of Indian Army personnel who are having their accounts with HDFC bank. It will also provide them an opportunity to access modern banking facilities.
The new MoU will provide benefits like free accidental death cover & free permanent disability cover of Rs 30 lakh and an educational cover of up to Rs 2 Lakh for children between the age of 12 and 20 years.
Background
Recently, Indian Army has also signed a MoU with HDFC bank on 3rd April 2018 in New Delhi.
Both the MoUs are considered for inception and renewal with banks on analyzing their utility and suitability to benefit the requirements of serving soldiers, pensioners/retired and families of Army men.
