Business

Bank of Baroda signs MoU with the Indian Army for Agniveers

The MoU extends the Baroda Military Salary Package offerings to Agniveers recruited under the Agnipath Scheme

Bank of Baroda (Bank), one of India’s leading public sector banks, today announced the signing of a Memorandum of Understanding (MoU) with the Indian Army to extend the Baroda Military Salary Package to Agniveers recruited under the Agnipath Scheme.

The MoU includes upgraded free comprehensive Personal Accident Insurance Cover (PAI), attractive deals on Debit and Credit Cards, and a slew of other incentives.

The ceremony for the exchange of MoUs was held at the Indian Army Headquarters, New Delhi. Lt. Gen. Bansi Ponappa, AVSM, VSM, Adjutant General of the Indian Army chaired the ceremony.

The event was also attended by Lt. Gen. V Sreehari, SC, SM, DG (MP & PS); Major Gen. Ashok Singh, ADG PS and Lt. Gen. Ranbir Singh Salaria, PVSM, VSM (Retd.), Chief Defence Banking Advisor, Bank of Baroda.

“We are proud to be associated with the Indian Army. Today, we are delighted to expand our collaboration by extending the benefits of the Baroda Military Salary Package to Agniveers. We promise to serve them with the best banking products and customer service, supported by state-of-the-art digital infrastructure and welcome them to the Bank of Baroda family.”

Lt. Gen. Ranbir Singh Salaria, PVSM, VSM (Retd.), Chief Defence Banking Advisor, Bank of Baroda said,

Benefits of the Baroda Military Salary Package for Agniveers:

  • Free Personal Accident Insurance Death Cover – On-duty up to ₹105 Lakh and Off-duty up to ₹90 Lakh
  • Salary account cover: On-duty up to ₹75 Lakh and Off-duty up to ₹60 Lakh
  • Additional PAI cover: ₹10 Lakh on RuPay Debit Card
  • Additional PAI cover: ₹ 20 Lakh on Yoddha Credit Card
  • Permanent Total Disability cover up to ₹60 Lakh
  • Permanent Partial Disability cover up to ₹30 Lakh
  • Air Accident Insurance Cover up to ₹100 Lakh
  • Inclusion of death in active operations in PAI offerings
  • Yoddha Credit Card with special offerings
  • Baroda Radiance Premier Banking Programme extended to Gallantry Award Winners irrespective of relationship value
  • Other benefits such as Unlimited free transactions at all Bank ATMs and waiver of issuance/ annual fee on Debit Card, 50% waiver on Locker Rentals, Free Remittances through all modes etc.

About Bank of Baroda

Bank of Baroda, founded on July 20, 1908 by Sir Maharaja Sayajirao Gaekwad III, is one of India’s largest commercial banks.

The Government of India controls 63.97% of the company. The bank serves its 150 million global customers through over 46,000 touchpoints distributed across 17 countries and five continents.

It offers all banking products and services in a fluid and hassle-free manner through its cutting-edge digital banking platforms.

The recently released bob World mobile app offers consumers a savings, investing, borrowing, and shopping experience all in one app.

The software also assists non-customers by allowing account opening via video KYC.

The vision of the bank corresponds to its varied clientele base and instils trust and security. It is making good progress in this area, and bob World is proof of its Digital Transformation agenda.
This article was shared with Prittle Prattle News as a Press Release.
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