Menu
BW CFO World
Community for Finance Professionals, Consultants and allied businesses
  • Home
  • News
  • Videos
  • Articles
    • Credit & Capital
    • Economic Trends
    • Financial Compliance
    • Financial Leadership
    • Financial Management
    • Financial Reporting
    • Financial Strategy
    • Risk Management
    • Taxation
  • Featured
  • Nominate for Awards
Close Menu
ICICI-Bank-renews-MoU-with-the-Indian-Army-to-offer-special-benefits-to-the-Army-personnel
October 28, 2021

ICICI Bank renews MoU with the Indian Army

Urvi Srivastava Global News army, icici, MoU, UYSM, Vishal Batra, VSM

The MoU was signed in Delhi by Lt. Gen R.P. Kalita, UYSM, AVSM, SM, VSM, Director General- Manpower Planning and Personnel Services, Indian Army and Mr. Vishal Batra, Regional Business Head & Head of Defence Ecosystem, ICICI Bank.

ICICI Bank renewed its Memorandum of Understanding (MoU) with the Indian Army, to offer a range of specially curated enhanced benefits and new features through its ‘Defence Salary Account’, to all serving as well as retired Army personnel. The MoU was signed in Delhi by Lt. Gen R.P. Kalita, UYSM, AVSM, SM, VSM, Director General- Manpower Planning and Personnel Services, Indian Army and Mr. Vishal Batra, Regional Business Head & Head of Defence Ecosystem, ICICI Bank.


As part of the MoU, the Bank offers a comprehensive bouquet of benefits like a zero balance account, preferential allotment of lockers and unlimited free transactions on ICICI Bank as well as Non-ICICI Bank ATMs in India, thereby providing exceptional flexibility to the Army personnel. As part of the renewed benefits, the Bank is offering an array of insurance benefits to the Army personnel. The account holders get a personal accident insurance cover of Rs. 50 lakh along with insurance of Rs. 10 lakh in case of death in terrorist action, which is the highest among all banks offering ‘Defence Salary Account’.

As part of the insurance cover, in case of accidental death, the Bank is offering Rs. 5 lakh for education of children and additional Rs. 5 lakh for the girl child of the deceased Army personnel. These benefits are available to the personnel across all ranks. Speaking about the new offering, Mr. Vishal Batra, Regional Business Head & Head of Defence Ecosystem, ICICI Bank said, “We are honoured to renew MoU with the Indian Army and extend a bouquet of banking services and benefits that are specially curated to provide comfort and convenience to the Army personnel in daily transactions, easy access to banking through our large network of branches, ATMs and digital banking channels.

Additionally, to provide increased protection to the personnel and their families, we are offering enhanced insurance covers as well as financial assistance for the higher education of the children of the personnel. We believe that this renewed proposition will benefit a large section of the serving and retired Army personnel.” As part of the Bank’s commitment to the Defence Forces, ICICI Bank will automatically extend all benefits of the renewed MoU to the Army personnel who are existing customers of the
‘Defence Salary Account’. There will be no requirement for the existing account holders to visit a branch or complete paperwork to upgrade to the benefits of the renewed MoU.

Benefits of ‘Defence Salary Account’ are also extended by the Bank to regular employees of Military Engineering Services (MES), Border Roads Organisation (BRO) and other Defence Civilians.

Urvi Shrivastav

→ Urvi Shrivastav

IMF revising India’s growth forecast downwards is ‘gross under estimation’: N K Singh India Suffered $87 Bn Approx Annual Loss From Extreme Weather Events: UN Report

Related Posts

economy

Economic Trends, Global News

Japan’s central bank offers bond purchases to keep rates low

nirmala sitharaman 3

Economic Trends, Global News

India To Oppose International Arbitration Awards To Devas After Court Ruling: FM

economy

Economic Trends, Global News

Omicron Spread May Disrupt Global Supply Chain: EEPC India

Movements

  • adobe danDan Durn Appointed As Adobe’s New Chief Financial Officer
  • Vineet Mahajan_Vineet Mahajan Appointed As New CFO Of Avanse Financial Services On Sept 27
  • bharat pet director financeVetsa Ramakrishna Gupta To Lead Bharat Petroleum As Director Finance
  • tender cuts cfoTenderCuts Names Satya Rakesh as New CFO
  • dailmer CFOManish Thakore Helms Daimler India Commercial Vehicles as CFO

Selected Stories

  • Chandrasekar-K-1Leading with empathy is the correct mantra for success

    Read more

  • 20220331_113353Govt orders probe into fire incident involving Ola

    Read more

  • indian rupeeAsian stocks rise as Ukraine peace talks appear to progress

    Read more

  • economyTata Coffee rallies nearly 13 pc; Tata Consumer jumps over 5 pc

    Read more

  • rupeeRupee rises 4 paise to 75.69 against US dollar in early trade

    Read more

Categories

  • Accounting
  • CFO Stance
  • Credit & Capital
  • Economic Trends
  • Featured
  • Financial Compliance
  • Financial Leadership
  • Financial Management
  • Financial Reporting
  • Financial Strategy
  • Financial Technologies
  • Global News
  • Interview
  • Movements
  • Risk Management
  • Taxation

Recent Comments

    Back To Top
    BW CFO World
    • Home
    • News
    • Videos
    • Articles
      • Credit & Capital
      • Economic Trends
      • Financial Compliance
      • Financial Leadership
      • Financial Management
      • Financial Reporting
      • Financial Strategy
      • Risk Management
      • Taxation
    • Featured
    • Nominate for Awards
    © Copyright BW BUSINESSWORLD 2018. All Rights Reserved.