Axis Bank inks MoU with Indian Army offering Service Salary Package under its ‘Power Salute” Initiative

On July 6, 2021, Axis Bank signed a

Memorandum of Understanding (MoU) with the Indian Army at Army Headquarters, New Delhi to Offer a defence service salary package to the

Latter under its ‘Power Salute’ initiative. The MoU Will cover all ranks of army officers viz. serving Defence personnel as well Defence pensioners Under its ambit.

During the signing ceremony Indian Army was represented by Lt Gen (Lieutenant General) Rana Pratap Kalita, and Axis Bank Was represented by Reynold D’ Souza, Executive Vice President and Lt Col MK Sharma National Accounts Head, Axis Bank.

What is in the package?

1.Personal accidental cover of up to Rs 56 lakh to all army personnel

2 .Up to 8 lakh education grant

3.Total Permanent Disability Cover benefit up to 46 lakh

4  .Permanent partial disability cover of up to Rs 46 lakh

5. Air accident cover of Rs 1 crore additional debit card for a family member This MoU represents Axis Bank’s commitment Towards Defence Forces by supporting them in Their financial requirements through banking


About Axis Bank:

Establishment– 1993 as UTI Bank (Name

Changed to Axis Bank in 2007)

Managing Director (MD) & Chief Executive Officer (CEO)– Amitabh Chaudhry

Headquarters– Mumbai, Maharashtra

Tagline– Badhti Ka Naam Zindagi


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