Categories: Banking

Axis Bank signs MOU with Indian Army to offer defence service salary package

The country’s third-largest private lender Axis Bank has signed MOU with the Indian Army offering a defence service salary package under its “Power Salute” initiative. The Defence service salary package will offer different benefits to all ranks of army officers. The benefits of the MoU will cover both serving Defence personnel as well Defence pensioners.

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According to the bank, it will offer–Personal accidental cover of up to ₹56 lakh to all army personnel; additional up to 8 lakh education grant; total Permanent Disability Cover benefit up to 46 lakh; permanent partial disability cover of up to ₹46 lakh; air accident cover of ₹1 crore, and free additional debit card for a family member.

Important takeaways for all competitive exams:

  • Axis Bank Headquarters: Mumbai;
  • Axis Bank Founded: 1993;
  • Axis Bank MD and CEO of Axis Bank: Amitabh Chaudhry.

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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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