Kotak Mahindra Bank signs MoU with the Indian Navy for salary account

The Indian Navy has signed a Memorandum of Understanding (MoU) with Kotak Mahindra for salary accounts of all its personnel – both serving and retired. The bank will reportedly offer special salary account benefits to the Indian Navy like enhanced complimentary personal accident insurance cover, special education benefit for children, and additional girl child benefit, and attractive rates and zero processing fees on personal loans, home loans and car loans.

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The Kotak salary account provides a range of privileges, and we have further personalized our offering, keeping in mind the requirements of Indian Navy personnel and their families. With a full suite of products, we will support the Indian Navy with all their banking requirements, backed by quality customer service and digital-first solutions.

Important takeaways for all competitive exams:

• Chief of Naval Staff: Admiral Karambir Singh.
• Indian Navy Founded: 26 January 1950.
• Kotak Mahindra Bank Establishment: 2003;
• Kotak Mahindra Bank Headquarters: Mumbai, Maharashtra;
• Kotak Mahindra Bank MD & CEO: Uday Kotak;

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