Bank of India signs MoU with Indian Coast Guard for Rakshak Package

Hyderabad: Bank of India, one of the leading public sector banks, reinforced its commitment to the Defence Sector by signing MoU with the Indian Coast Guard, offering a Defence service salary package with best in class features under its “BOI Rakshak Salary/ Pension Savings Scheme”.

The Signing Ceremony was held recently at the Coast Guard headquarters, New Delhi with the Indian Coast Guard represented by Narendra Singh, Deputy Inspector General and Principal Director (Administration) and Bank of India was represented by Sharda Bhushan Rai, Chief General Manager Head Office (Resource/ Marketing/ GBD) Mumbai, Lokesh Krishna, General Manager FGMO, New Delhi and Ajay Kumar Panth, Deputy General Manager, Government Business Department.

Through this exclusive BOI Rakshak Package, Bank of India will offer numerous benefits to all ranks of the Indian Coast Guard, Veterans, Recruits and Agniveers including Personal Accidental Insurance coverage up to Rs 150 lakh, permanent total disability cover up to Rs 50 lakh, air accidental cover up to Rs 100 lakh and permanent partial disability cover of Rs 25 lakh. Apart from this the bank will also offer concessions in retail loans, processing charges and locker rentals.

The MoU is a reflection of Bank of India’s constant endeavor to serve the Defence forces and help them to meet their financial requirement, aspirations and milestones.

BOI’s digital Initiative and BOI Mobile Omni Neo app will also enable the Defence personnel at borders and other remote areas to stay connected and get easy access to bouquet of financial solutions.