Categories: Banking

Axis Bank signed MoU with Indian Navy to offer ‘Power Salute’

Axis Bank signed an MoU with the Indian Navy to offer a defence service salary package under ‘’Power Salute’’ at New Delhi. Through the agreement, the bank will provide several benefits to all ranks of Indian Navy veterans and cadets. ICICI Bank also renewed its MoU with the Indian Army to offer enhanced benefits and new features through its ‘Defence Salary Account’ (DSA) to all serving as well as retired Army personnel.

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Major benefits included under “Power Salute” are an accidental cover up to INR 56 lakh, children education grants up to INR 8 lakh, total permanent disability cover up to INR 46 lakh, partial permanent disability cover of up to INR 46 lakh and air accidental cover of INR 1 crore, zero processing fee and 12 EMI (Equated Monthly Installment) waivers on the home loan.

Important takeaways for all competitive exams:

  • Axis Bank Founded: 3 December 1993;
  • Axis Bank Headquarters: Mumbai;
  • Axis Bank MD & CEO: Amitabh Chaudhary;
  • Axis Bank Chairperson: Shri Rakesh Makhija.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.

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