Hyderabad / Mumbai, February 16th, 2022: Bank of Baroda (Bank), one of India’s leading public sector banks, today announced that the Bank has signed a Memorandum of Understanding (MoU) with Assam Rifles, the oldest paramilitary force, to provide the Baroda Central Forces Salary Package.
Under the agreement, the 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 P S Singh, Colonel Administration, Head Quarters, Directorate General, Assam Rifles, and Mr. Debarata Das, Zonal Manager, Kolkata Zone, Bank of Baroda.
Benefits of the Baroda Central Forces Salary Package for Assam Rifles
- Personal Accident Insurance (PAI)
In case of death, cover to 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.
- Disability: Total Disability – Rs 35 lakh; Partial Disability – Rs 17.5 lakh
- 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 honored 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 the 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 Travelcards.
About Bank of Baroda:
Founded on 20th July 1908 by Sir Maharaja Sayajirao Gaekwad III, the Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of over 140 million through over 46,000 touchpoints spread across 19 countries in five continents. Through Its state-of-the-art digital banking platforms, it provides all banking products and services in a seamless and hassle-free manner.
The recently launched bob World mobile app provides customers with saving, investing, borrowing, and shopping experience, all under one single app. The app also serves non-customers by enabling account opening through video KYC. The Bank’s vision matches its diverse clientele base and instills a sense of trust and security. It is moving well in that direction and bob World is a testimony of its roadmap towards Digital Transformation.