IndusInd Bank signs MoU with Indian Army for providing modern banking services

Posted By: Religare
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IndusInd Bank signs MoU with Indian Army
Indusind Bank Ltd has announced that it has signed a Memorandum of Understanding with the Indian Army for issuing Salary Accounts to personnel of all ranks of the Indian Army. The MoU aims at simplifying and streamlining the salary disbursement procedure and to deliver modern banking facilities of Indus Bank to the brave soldiers of the Indian Army. Some of the features offered include:

Free 'Anywhere Banking'; Unique lndus Money Monthly Auto Cash Back program that rewards banking transactions ; Free Demand Draft up to Rs. 25,000/- per day; free inward foreign remittance facility. For all Senior Army Officers the Bank would provide 'Platinum Debit Card'; 5X lndus Money Rewards Program; 30% discount on Green Fees at 300 golf clubs around the world; Complimentary Air Accident Insurance of Rs. 30 lacs and many more.

Besides this, the bank will issue 'Gold Debit Card' for all the Personnel below Officer Ranks and this card will have higher purchase limit of Rs. 1 lakh & ATM withdrawal limit of Rs. 50000 daily. The other benefits include Indus Money- Monthly auto cash-back virtually on all your banking transactions; Air Accidental Insurance to the tune of Rs. 5 la Lost Card Liability to the tune of Rs. 1 Lac; Purchase protection to the tune of Rs. 50 Waiver up to Rs. 125/- per month on Fuel Surcharge and many more"

Commenting on this development, Mr Romesh Sobt MD & CEO, Indusind Bank said, “This is an event of pride and honour for us. Indus Bank is delighted to join hands with the Indian Army to provide a full range of banking products and services to all cadres of the Indian Army. We at lnduslnd Bank are confident that we will live up to the expectations that the Army has from its bankers."

Read more about: indusind bank, bank, bse, capital market
Story first published: Wednesday, June 29, 2011, 9:31 [IST]
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