• About
  • Advertise with us
  • Privacy Policy
  • Contact Us
PrimeView
  • Home
  • CEO Stories
  • Industry Insider
    • AUTOMOBILE
    • Business
    • Education
    • Energy
    • Finance
    • Healthcare
    • Marketing
    • Law &Legal
  • Magazines
  • Women in Business
  • News
  • Press Release
No Result
View All Result
  • Home
  • CEO Stories
  • Industry Insider
    • AUTOMOBILE
    • Business
    • Education
    • Energy
    • Finance
    • Healthcare
    • Marketing
    • Law &Legal
  • Magazines
  • Women in Business
  • News
  • Press Release
No Result
View All Result
PrimeView
Home Press Release
ICICI Bank renews MoU with the Indian Army to offer special benefits to the Army personnel

ICICI Bank

ICICI Bank renews MoU with the Indian Army to offer special benefits to the Army personnel

prime by prime
Share on FacebookShare on Twitter

ICICI Bank renewed its Memorandum of Understanding (MoU) with the Indian Army, to offer a range of specially curated enhanced benefits and new features through its ‘Defence Salary Account‘, to all serving as well as retired Army personnel. The MoU was signed in Delhi by Lt. Gen R.P. Kalita, UYSM, AVSM, SM, VSM, Director General- Manpower Planning and Personnel Services, Indian Army and Mr. Vishal Batra, Regional Business Head & Head of Defence Ecosystem, ICICI Bank.

  • The benefits are for the Army personnel- serving and retired- across all ranks
  • Only bank to offer personal accidental insurance of Rs. 50 lakh and an additional Rs 10 lakh in case of death in terrorist action
  • Host of other benefits include zero balance account, preferential allotment of lockers and unlimited free transactions on ICICI Bank as well as Non-ICICI Bank ATMs in India
  • All existing account holders to get automatic upgrade to the new benefits

As part of the MoU, the Bank offers a comprehensive bouquet of benefits like a zero balance account, preferential allotment of lockers and unlimited free transactions on ICICI Bank as well as Non-ICICI Bank ATMs in India, thereby providing exceptional flexibility to the Army personnel. As part of the renewed benefits, the Bank is offering an array of insurance benefits to the Army personnel. The account holders get a personal accident insurance cover of Rs. 50 lakh along with insurance of Rs. 10 lakh in case of death in terrorist action, which is the highest among all banks offering ‘Defence Salary Account’. As part of the insurance cover, in case of accidental death, the Bank is offering Rs. 5 lakh for education of children and additional Rs. 5 lakh for the girl child of the deceased Army personnel. These benefits are available to the personnel across all ranks.

Speaking about the new offering, Mr. Vishal Batra, Regional Business Head & Head of Defence Ecosystem, ICICI Bank said, “We are honoured to renew MoU with the Indian Army and extend a bouquet of banking services and benefits that are specially curated to provide comfort and convenience to the Army personnel in daily transactions, easy access to banking through our large network of branches, ATMs and digital banking channels. Additionally, to provide increased protection to the personnel and their families, we are offering enhanced insurance covers as well as financial assistance for the higher education of the children of the personnel. We believe that this renewed proposition will benefit a large section of the serving and retired Army personnel.”

As part of the Bank’s commitment to the Defence Forces, ICICI Bank will automatically extend all benefits of the renewed MoU to the Army personnel who are existing customers of the ‘Defence Salary Account’. There will be no requirement for the existing account holders to visit a branch or complete paperwork to upgrade to the benefits of the renewed MoU.

Benefits of ‘Defence Salary Account’ are also extended by the Bank to regular employees of Military Engineering Services (MES), Border Roads Organisation (BRO) and other Defence Civilians.

Some of the enhanced and new features of ICICI Bank’s ‘Defence Salary Account’ include:
  • Personal accidental insurance cover of Rs. 50 lakh and additional Rs 10 lakh in case of death in terrorist action
  • Air accidental insurance cover of Rs. 1 crore; permanent total and permanent partial disability insurance cover of Rs. 50 lakh
  • As part of the insurance cover, in case of accidental death, educational benefit of Rs. 5 lakh for children and additional Rs. 5 lakh for the girl child of the deceased Army personnel
  • Personal accidental insurance is extended to Gentlemen Cadets, Re-employed Officers and Retired Defence Personnel upto 80 years of age
  • The Army personnel gets life time free credit card from the Bank’s premium gemstone collection
  • The Bank will set up an exclusive toll free ‘Defence Banking Helpline’ for Defence Banking customers, shortly

To apply for the account, the Army personnel can visit the nearest ICICI Bank branch or contact ICICI Bank officials during the Bank’s outreach to cantonments / regiments for the Defence Salary Account.

Tags: ICICI BankMoU
prime

prime

Related Posts

Logitech’s #BePresent Campaign highlights digital presence is important for effective virtual collaboration

Logitech’s #BePresent Campaign highlights digital presence is important for effective virtual collaboration

May 28, 2025
FAAD Capital’s Aditya Arora and BaatCheet Media’s Surya Pasricha Launch their Debut Book, “Startups of Bharat”

FAAD Capital’s Aditya Arora and BaatCheet Media’s Surya Pasricha Launch their Debut Book, “Startups of Bharat”

May 28, 2025
Ansys – BlueKei collaborate to Advance Digital Engineering in India

Ansys – BlueKei collaborate to Advance Digital Engineering in India

May 22, 2025
ISACA Launches Groundbreaking Advanced in AI Audit (AAIA) Certification

ISACA Launches Groundbreaking Advanced in AI Audit (AAIA) Certification

May 22, 2025
Dental Chain

Asia’s Largest Dental Chain Clove Dental Accelerates West India Expansion, Targeting 100 Clinics in Mumbai and 30 in Ahmedabad

May 24, 2025
Third Bracket

Smart hiring platform Third Bracket raises close to Rs. 5 crore in seed funding Seeks to redefine the future of hiring with AI-led innovation

May 17, 2025

Company Info

  • About us
  • Contact us
  • Terms & conditions

Our Services

  • Guest Blogging
  • Magazines
  • Press Release
  • Advertise with us
  • Colleen Georges | Life & Career Coach / Resume Writer / Motivational Speaker & Trainer | RESCRIPT
  • Takanori ABE | Founder | ABE & PARTNERS
  • Kushal Patel | Managing Director | Axita Cotton Limited |
Tweets by Prime_View

Prime View Magazine showcase the wonderful stories of Founder’s, CEO’s, VP’s, Director’s and business and the unique services offered by them. Our website is one of the best online and digital platform for latest business news information.

Read More...
+1 (727) 607-0789
info@primeview.co

@2025 - All Right Reserved | Designed and Developed by Prime View.

No Result
View All Result
  • Home
  • CEO Stories
  • Industry Insider
    • AUTOMOBILE
    • Business
    • Education
    • Energy
    • Finance
    • Healthcare
    • Marketing
    • Law &Legal
  • Magazines
  • Women in Business
  • News
  • Press Release

@2024 - All Right Reserved | Designed and Developed by Prime View.