Indian Army signs an MoU with IDFC First
Bank
¨
Indian Army signs an MoU
with IDFC First Bank.
¨ It also provides improved
insurance benefits for serving and retired Army personnel.
¨
The MoU has been signed
for 3 years till February 2029.
¨
As part of the agreement,
Personal Accidental Insurance cover of 60 lakh rupees is provided without
mandatory salary or pension credit. This is linked to minimum monthly credits.
¨
An additional nominee
insurance cover of ₹35 lakh is included.
¨
The agreement provides
air accident insurance of up to ₹1 crore. It also offers higher education
support worth ₹4 lakh.
¨ Financial assistance of up to ₹2 lakh is provided for girl child marriage.
¨ IDFC FIRST Bank is an Indian private sector bank, founded in 2015 and based in Mumbai.
