State Bank of India (SBI) has signed a Memorandum of Understanding (MoU) with the Border Security Force to offer special benefits to the serving and retired BSF personnel and family pensioners through the Central Armed Police Salary Package (CAPSP) Scheme.
The MoU will ensure extensive benefits to the security forces including complimentary Personal and Air Accidental Insurance (Death) cover, additional cover in case of on-duty death, and Permanent Total Disability / Partial Disability cover, it said in a press statement.
The MoU will support child education and the marriage of girl children of deceased BSF personnel. The retired personnel will be eligible for complimentary Personal Accidental (Death) Insurance, irrespective of age, whereas family pensioners will be eligible for a bouquet of benefits.
The Bank will offer zero-balance savings bank accounts with a host of complimentary benefits and waiver of service charges to recognize their contribution toward nation-building. It will will also provide attractive interest rates and concession on processing charges for serving personnel on Home, Car, Education, and Xpress Credit Personal loans it said.
Dinesh Khara, Chairman, SBI stated that “We are humbled to partner with the Border Security Force and provide solutions that aim to benefit and ensure financial security for the BSF personnel and their families. It is an honour and a matter of pride for us to be associated with this force and offer a host of curated benefits through our Central Armed Police Salary Package (CAPSP), which ensures ease of access to banking facilities to them and their families.”
The MoU is designed and customized to best suit the requirements of serving BSF personnel, Pensioners, and their families. It was signed in New Delhi in presence of S.L. Thaosen IPS Special Director General BSF, Saloni Narayan Deputy Managing Director (Retail Business) SBI, Devendra Kumar Chief General Manager (Personal Banking) SBI, Krishna Choudhary IPS (Retd) Advisor (CAPF) SBI, Ravi Gandhi IG(Adm) BSF, Manoj Kumar Yadav DIG (Finance) BSF, Vikas Kumar DIG (Adm) BSF, P.S. Yadav DGM (Salary Package Accounts) SBI and other senior officials from BSF and SBI.
