Leading public sector bank, Bank of Baroda, recently announced that it had signed a Memorandum of Understanding (MoU) with Assam Rifles to provide the Baroda Central Forces Salary Package.
Under the agreement, Bank of Baroda will offer the Baroda Central Forces Salary Package to all personnel of the Assam Rifles, both serving and retired.
Further, the bank will also provide special benefits, including personal accident insurance and a co-branded credit card.
The MoU between the bank and Assam Rifles was signed by Colonel PS Singh, colonel administration, headquarters, directorate general, Assam Rifles and Debarata Das, zonal manager, Kolkata Zone, Bank of Baroda.
The benefits of the Baroda Central Forces Salary Package for Assam Rifles include personal accident insurance (PAI) which will cover the serving and retired Assam Rifles personnel between the age group of 18-70 years. For on-duty personnel, the personal accident insurance amount will be Rs 43.75 lakh and for off-duty personnel, the personal accident insurance amount will be Rs 35 lakh.
Also, the insurance cover will give benefits up to Rs 35 lakh in case of total disability while it will be Rs 17.5 lakh for partial disability. Other benefits include a co-branded credit card.
Speaking on the occasion, Lt Gen Ranbir Singh Salaria, PVSM, VSM (Retd), chief defence banking advisor, Bank of Baroda said: “We at Bank of Baroda are honoured to be able to serve the Assam Rifles and extend our best-in-class banking services to them. The bank’s specially curated Central Forces Service Package is designed to support the banking requirements of our national heroes and their families.”
As part of the MoU, Bank of Baroda will offer a comprehensive bouquet of services such as free unlimited transactions at all Bank ATMs, free remittance services – NEFT/ RTGS online or through branch, free debit card, free unlimited demand draft facilities, 50% discount on locker rentals, 100% waiver on demat annual maintenance charges and 75% waiver on issuance charges for gift and travel cards.