Home > Business > Axis Bank’s ‘Power Salute’ offers defence service salary package for Indian Army

Axis Bank’s ‘Power Salute’ offers defence service salary package for Indian Army

TBB BUREAU

MUMBAI, JULY 6, 2021

The country’s third-largest private lender Axis Bank on Tuesday signed a memorandum of understanding (MoU) with the Indian Army offering a defence service salary package under its “Power Salute” initiative.

The Defence service salary package will offer different benefits to all ranks of army officers, Axis Bank said in a media statement.

According to the bank, it will offer–Personal accidental cover of up to Rs 56 lakh to all army personnel; additional up to 8 lakh education grant; total Permanent Disability Cover benefit up to Rs 46 lakh; permanent partial disability cover of up to Rs 46 lakh; air accident cover of Rs 1 crore, and free additional debit card for a family member.

The benefits of the MoU will cover both serving Defence personnel as well Defence pensioners.

At present, the bank also offers unlimited free payable-at-par cheque books, and unlimited free demand drafts and pay orders.

The signing ceremony was held at Army Headquarters, with the Indian Army represented by Lt. Gen. R P Kalita, DG (MP&Ps) and Reynold D’ Souza, Executive Vice President and Lt. Col. MK Sharma National Accounts Head, Axis Bank.

About admin

Leave a Reply

Your email address will not be published. Required fields are marked *

*