Aims for the continued welfare of Soldiers & their Families!. Indian Army has signed Memorandum of Understanding (MoU) with State bank of India (SBI) on Defence Salary
Package.
- It is a revised version of the first MoU between SBI and Indian Army signed in 2011 and was renewed again in February 2015 to add suited requirements of serving soldiers, pensioners and families.
Details about the MoU:
There are a number of additional facilities that have been incorporated in the revised MoU which includes:- Free personal accident death cover
- Free permanent total disability cover
- Other accidental benefits to the deceased soldier and family
- The revised MoU will benefit a large number of serving and retired Army personnel who have their accounts with the SBI.
- Currently, Indian Army has MoUs on Defence Salary Package with 11 public and private sector banks.
