MOU on Defence Salary Package Signed between Indian Army and Corporation Bank

MOU on Defence Salary Package Signed between Indian Army and Corporation Bank. Memorandum of Understanding (MoU) was signed between the Indian Army and Corporation Bank on the Defence Salary Package. The signing formalities was chaired by the Adjutant General, Lt Gen Rakesh Sharma, and was attended by top officials of Corporation Bank headed by Mr. Gopal MurliBhagat, Executive Director. The

MoU is adapted to suit the requirements of serving soldiers, pensioners and families and includes free / concessional services including free drafts, free cheque books, free funds transfers to any bank in India through RTGS / NEFT, free ATM cards, Unlimited transactions on all ATMs including that of other Banks.

iv. Some important attributes of the MoU include Personal Accident Insurance Coverof Rs.5 & 10 lacs, Air Insurance Coverof Rs.5 to 50 lacs and Term Life Insurance Cover of Rs.5 & 10 lacs. All the facilities are also increased to the pensioners except Term Life Insurance Cover.

Corporation Bank :

♦ Headquarters: Mangalore

♦ CEO: Jai Kumar Garg