A Memorandum of Understanding was signed between Assam Rifles and Bank of Baroda. It allows the public sector bank to provide the Baroda Central Forces Salary Package to the personnel of Assam Rifles. This facility will be available to both serving and retired personnel of Assam Rifles. Apart from the existing facilities, some special benefits like Personal Accident Insurances and co-branded credit cards will also be given.
This Memorandum of Understanding was signed by Colonel P S Singh, Colonel Administration, for Assam Rifles and Mr. Debarata Das, Zonal Manager, Kolkata Zone for Bank of Baroda.
Key Points of the Baroda Central Forces Salary Package
- Personal Accident Insurance : In case of death, this package covers the serving and retired Assam Rifles personnel in the age group of 18-70 years. For on-duty personnel, the cover amount will be Rs. 43.75 Lakhs and for off-duty personnel, the cover amount will be Rs. 35 Lakhs.
- Disability Insurance : In case of total disability a total cover of Rs. 35 Lakhs and a cover of Rs. 17.5 Lakhs in case of partial disability.
- Co-Branded Credit Card.
Speaking on the occasion, Lt Gen Ranbir Singh Salaria, PVSM, VSM (Retd), Chief Defence Banking Advisor, Bank of Baroda said, “We at Bank of Baroda are honored to be able to serve the Assam Rifles and extend our best-in-class banking services to them. The Bank’s specially curated Central Forces Service Package is designed to support the banking requirements of our national heroes and their families.”
Bank of Baroda will also offer a host of other services like free unlimited transactions at all Bank ATMs, free remittance services through NEFT/ RTGS / online or through branch, free debit card, free unlimited demand draft facilities, 50% discount on locker rentals, full waiver on Demat annual maintenance charges and 75% waiver on issuance charges for Gift and Travel cards from the bank.
