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

India Unemployment Rate Rises to 5.1% in March 2026, Hits Five-Month High

Unemployment rate of India has climbed to 5.1% in the Month of the March 2026.…

25 mins ago

TIME100 2026: Full List of World’s Most Influential People and Key Trends

The awaited TIME100 list for 2026 has been officially released by the TIME. This reports…

1 hour ago

Which Valley is known as the Valley of Gods? Check Here

India has many beautiful valleys filled with greenery, rivers, and mountains. Some of these valleys…

16 hours ago

FICCI Names Anant Swarup as Secretary General, Takes Charge from April 14, 2026

Federation of Indian Chambers of Commerce and Industry (FICCI) has appointed the Anant Swarup as…

17 hours ago

Andhra Pradesh CM Chandrababu Naidu Launches AQRF to Boost India’s Quantum Technology Ecosystem

Honorable Chief Minister of the Andhra Pradesh N. Chandrababu Naidu has launched the Amaravati Quantum…

18 hours ago

Melie Kerr Wins ICC Women’s Player of the Month for March 2026

Melie Kerr the captain of the New Zealand women team has been named the ICC…

18 hours ago