Categories: Defence

Under SPARSH programme, Defense Ministry signs an MoU with BoB and HDFC

Defense Ministry signs an MoU with BoB and HDFC: In order to reach seventeen lakh defence pensioners nationwide, the Defence Ministry has inked an MoU with Bank of Baroda (BoB) and HDFC Bank as part of the SPARSH-System for Pension Administration program. Dr. Ajay Kumar, the secretary of defence, stated that by the end of this month, seventeen lakh of the thirty-two lakh defence pensioners will be added to SPARSH.

Bank Maha Pack includes Live Batches, Test Series, Video Lectures & eBooks

Defense Ministry signs an MoU with BoB and HDFC: Key Points

  • The remaining retirees under this program will be brought as soon as possible.
  • The average time for pension settlement has decreased dramatically to just 16 days, according to the Defense Secretary.
  • According to the Ministry, the MoU would designate more than 14,000 bank branches as Service Centers, providing retirees with an efficient way to request profile updates, make complaints and seek redress, verify pensioner data, and more. In the fiscal year 2021–2022, it was said that the SPARSH project has already enrolled one million seniors and distributed 11,000 600 crore rupees.

Important Takeaways For All Competitive Exams:

  • Minster of Defence, GoI: Shri Rajnath Singh
  • Secretary of defence, Ministry of Defence: Dr. Ajay Kumar
  • Chairman of HDFC Bank: Atanu Chakraborty
  • Chairman of Bank of Baroda (BoB): Hasmukh Adhia

Find More News Related to Agreements

Recent Posts

Which City is known as the French Riviera of the East? Check Here

Puducherry is a beautiful coastal city in India, located along the Bay of Bengal. It…

35 mins ago

Bank of Baroda Launches Feature Phone Banking Service via JioPhone Devices

Bank of Baroda have partnered with Reliance Jio to bring the mobile banking services to…

39 mins ago

Narendra Modi Inaugurates Sri Guru Bhairavaikya Mandira in Karnataka

Honorable Prime Minister of India Narendra Modi have visited Karnataka on April 15th 2026 and…

1 hour ago

World Voice Day 2026: Origin, Theme and Significance of the Day

World Voice Day 2026 was observed on the 16th of April every year April 16.…

2 hours ago

Top-5 Most Important Straits in the World, Check the Names

Straits are narrow water passages that connect two large water bodies like seas or oceans.…

2 hours ago

Indian Navy Commanders Conference 2026 Begins at Nausena Bhawan, Focus on Maritime Security

The Indian Navy Commanders Conference 2026 was commenced on the April 14th at the Nausena…

2 hours ago