Indian Army signs MoU with Bank of Baroda for new ‘Baroda Military Salary Package’

For ‘Baroda Military Package’ the Indian army and Bank of Baroda have agreed to sign a Memorandum of Understanding (MoU). In the presence of Lt Gen Harsha Gupta, Adjutant General, Indian Army who also chaired the meeting the memorandum was signed by Lt Gen Ravin Khosla, DG(MP&PS), and Shri Vikram Aditya Singh Khichi, Executive Director, Bank of Baroda. There was all the information in the MoU about all the banking services for the serving and retired people of the Indian Army by the Bank of Baroda.

Through the bank’s 8,200 domestic branches and almost 20,000 business correspondent touchpoints, all the facilities under ‘Baroda Military Salary Package’ will be available for all the serving and retired personnel of the Indian Army.

There are various benefits provided in the ‘Baroda Military Salary Package’ like Permanent Total Disability cover, Air Accident Insurance Cover of sizeable amounts, free Personal Accidental Insurance cover. Not only this but also Girl child marriage cover on death and educational funds in case of serving personnel.

There are more facilities like unlimited ATM transactions at any bank, concessions on service charges in trade loans, free payment facility through RTGS/NEFT, free banker’s cheque or demand draft, a considerable reduction in locker fees, and there are more benefits that one comes to know at the time of usage. Bank of Baroda on the BSE at around 2:48 pm was trading at Rs58.40 per piece down by Rs0.3 or 0.51%.


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