The Indian Army on Thursday marked a Memorandum of Understanding (MoU) with the State Bank of India on protection pay bundle.
The primary MoU amongst SBI and the Indian Army was marked in 2011 and was recharged on 23 February, 2015. As per Indian Army, the amended MoU is customized to suit the necessities of serving warriors, retired people and their families.
“Some of extra offices have been joined in the modified MoU which incorporate free individual mischance demise cover, free perpetual aggregate disablement cover and other inadvertent advantages to the perished warrior and family. This MoU will profit countless and resigned Army work force who are having their records with SBI. The MoU will be legitimate till 3 January, 2019 and continuation from that point will be liable to audit/recharging,” the Indian Army said in an announcement.
The marking in service was led by Adjutant General Lt Gen Ashwani Kumar and was gone to by top authorities of SBI headed by Shri PK Gupta, Managing Director (Retail and Development Banking), SBI.