Axis Bank signs MOU with Indian Army

July 6, 2021

  • Offers best-in-class benefits and features under its ‘Power Salute’ initiative

Axis Bank, India’s third largest private sector bank, reinforced its commitment to the Defence sector by signing an MOU with the Indian Army, offering a defence service salary package with best-in-class benefits and features under its ‘Power Salute’ initiative.

Axis Bank signs MOU with Indian Army

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

Through this exclusive Defence service salary package, Axis Bank will offer numerous benefits to all ranks of army officers:

  • Personal Accidental cover of up to Rs. 56 lakhs to all army personnel
  • Additional up to 08 Lakhs Education Grant
  • Total Permanent Disability Cover benefit up to Rs. 46 Lakhs
  • Permanent Partial disability cover of up to Rs. 46 lakhs
  • Air Accident cover of Rs. 1 Crore
  • Free Additional Debit Card for a family member
  • Universal account number across India. All Axis Bank branches will serve us “Home branch’’

The MOU is a reflection of Axis Bank’s constant endeavour to serve the Defence Forces, and help them meet their financial requirements, aspirations and milestones. Axis Bank’s digital initiatives have enabled soldiers at borders and other remote areas to stay connected and access a bouquet of banking solutions.