New Delhi. The Indian Army and Bank of Baroda entered into an agreement on September 30, 2019. The agreement enumerates the banking services provided by the Bank of Baroda to serving and retired personnel of the Indian Army. Lieutenant General Ashwani Kumar, Adjutant General presided over the program. The agreement was signed by Director General (Manpower and Personnel Services) Lt. Gen. Harsh Gupta and Bank of Baroda Executive Director Vikramaditya Singh Khichi.
The main features of this agreement include providing free personal accident insurance (death and permanent total disability) protection, free air crash insurance protection and triple the amount of monthly total salary from Rs 15 lakh to Rs 50 lakh. These features are also applicable to Indian Army pensioners up to the age of 70 years.
Bank of Baroda is the second largest public bank with over 9500 domestic branches and presence in 24 countries across the country. Through this agreement, this bank has assured a new and customized banking service for serving and retired personnel of the Indian Army.