Bank of Baroda signs MoU with armed forces

Hyderabad: Bank of Baroda, a public sector bank, signed a Memorandum of Understanding (MoU) with Indian navy, Indian coast guard and renewed its existing MoU with the Indian army, to offer specially customized banking services through 'Baroda Military Salary Package',

The bank has made the same arrangement with Indian air force also, thereby covering all the four armed forces under Ministry of Defence. A similar package has been introduced by the bank for the central armed police forces also.

Services under 'Baroda Military Salary Package' will be offered to serving and retired personnel of Indian armed forces through the bank's network of over 8,200 domestic branches and around 20000 BC touch points.

The package offers very attractive benefits including free personal accidental insurance cover, permanent total disability cover, partial disability cover and air accident insurance cover of sizable amounts, as well as higher education cover and girl child marriage Cover on death in case of serving personnel.

Executive Director of the bank, Vikramaditya Singh Khichi said "We are pleased to associate with our armed forces and with this initiatives, it is our endeavor to offer an enhanced banking experience for the serving and retired Indian Armed Forces personnel.

The in-built features and facilities offered under the 'Baroda Military Salary Package' make it one of the best-in-class salary and pension packages available in the banking industry."