Bank of Baroda 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, 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 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
Lt Gen Ranbir Singh Salaria, PVSM, VSM (Retd), Chief Defence Banking Advisor, Bank of Baroda said, “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 percent discount on locker rentals, 100 percent waiver on Demat annual maintenance charges and 75 percent waiver on issuance charges for Gift and Travel cards.