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Axis Bank Signs MoU with Indian Army to launch ‘Power Salute’; which offers special banking services for Defence Personnel

A Memorandum of Undertaking (MoU) was marked between the Indian Army and Axis Bank on the Defense Salary Package on 13 Apr 2018.



The primary MoU between Axis Bank and the Indian Army was marked in 2011 and was reestablished on 24 Mar 2015. The current MoU is carefully fit to suit the necessities of serving fighters, beneficiaries and families.

The marking in service was led by the Director General (MP&PS), Lt Gen SK Saini and was gone to by the best dignitaries of Axis Bank headed by Mr Sanjay Sailas, President and Head, Retail Banking, Axis Bank.

As of late, Indian Army has likewise marked a MoU with HDFC bank. MoUs are considered for commencement and restoration with banks on breaking down their utility and appropriateness to the necessities of serving fighters, beneficiaries and families. Armed force is trusting that this MoU will profit an extensive number of serving and resigned Army personnels who are having their account with Axis bank; and also provide them an opportunity to access modern banking facilities.

Under the current MoU, aside from different advantages, the Army personnel will get free personal accident death cover and free permanent total disability cover of Rs 30 lakh and free educational cover of up to Rs 2 Lakh for children between the age of 12 and 20 years.

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