The MoU provides specialised banking facilities to serving and retired Army personnel

Current Context: The MoU between the Indian Army and IDFC FIRST Bank was signed on 9 February 2026 in Mumbai.

• Its aim is to provide specialised banking services and enhanced insurance benefits to serving and retired Army personnel.
• The agreement will remain valid for three years till February 2029. 
• It offers a Personal Accidental Insurance (PAI) cover of ₹60 lakh.
• The cover is available without mandatory salary/pension credit, linked instead to minimum monthly credits.
• This MoU ensures exclusive banking facilities, customised products, and stronger financial security for soldiers and veterans.

Question:

Q.1 The MoU signed on 9 February 2026 was between the Indian Army and which bank?
a) HDFC Bank
b) State Bank of India
c) ICICI Bank
d) IDFC FIRST Bank

Answer: d) The agreement was signed between the Indian Army and IDFC FIRST Bank.