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BOB Signed MoU with Indian Navy and Indian Coast Guard

Published on December 24, 2020
Current Context: The Bank of Baroda (BOB) has signed MoU with the Indian Navy and Indian Coast Guard.
BOB Signed MoU with Indian Navy and Indian Coast Guard
  • Through this MoU, BOB will be offering customized banking services along with a host of facilities to the account holders. 
  • The banking services will be offered through ‘Baroda Military Salary Package’.
  • Also, the bank has renewed its MoU with the Indian Army to offer customized banking solutions.
  • The ‘Baroda Military Salary Package’ will be offered through 8200 domestic branches of the bank and through 20,000 business correspondents touchpoints.
  • The package will be offered to serving as well as retired officers of IN and ICG.
  • The package is comprised of benefits like free personal accident insurance cover, permanent total disability cover, Partial disability Cover and Air Accident Insurance Cover of sizable amounts.
  • The package also offers benefits like Higher Education Cover and Girl Child Marriage Cover on death in case of serving personnel.
  • It is also included with 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 the usage of Cards.
  • Static Part: 
    • HQ of BOB: Vadodara, Gujarat
    • MD and CEO of BOB: Sanjiv Chadha.
    • Tagline of BOB: India’s International Bank


Q.1 Which bank signed MoU with Indian Navy and Indian Coast Guard?
a. Federal Bank
b. Bank of Baroda
c. State Bank of India
d. HDFC Bank
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