SBI renews Memorandum of Understanding with IAF to provide salary package to Defense

The State Bank of India (SBI) has renewed the Memorandum of Understanding (MoU) with the Indian Air Force, to provide a specially curated bouquet of benefits and features to all staff members of the Indian Air Force. serving and retired Air Force and their families through its unique Defense Salary Package (DSP) Scheme.

The MoU was signed in New Delhi in the presence of Air Chief Marshal VR Chaudhari, PVSM, AVSM, VM, ADC, Air Marshal K Ananthraman, VSM, Air Officer In-charge Administration, and Air Vice-Marshal Ashok Saini, VSM, Asstt. Chief of Air Staff (Air Accounts and Veterans), Swaminathan J., Managing Director, SBI, PC Kandpal, Dy. SBI Managing Director, Devendra Kumar, CGM, SBI, Air Vice Marshal AK Singh, Defense Banking Advisor, SBI and other senior Bank and Indian Air Force officials .

SBI provides many benefits to Air Force personnel through free personal accident insurance, airline accident insurance, and additional coverage for death in service (while in action). Insurance coverage for Total Permanent Disability / Partial Disability is also available. In the event of the death of the flight crew, the family of the deceased is supported by the granting of additional guarantees for the education of the children and the marriage of the little girl.

As part of this package, retired staff will also be eligible for free personal accident insurance, regardless of age. Families of retirees would also be entitled to a number of benefits.

Dinesh Khara, President of SBI said, “It is an honor and a pride for us to be associated with the Indian Air Force and to offer a host of organized benefits through our salary package. defense. At SBI, we strive to support the tireless efforts of Air Force personnel to keep our nation and its citizens safe. We will continue to provide tailored solutions to defense personnel through our flagship defense salary program.

As part of the bank’s commitment to the Defense Force, the enhanced benefits contained in the MoU will automatically be extended to all Air Force personnel who are covered by the Defense Salary Package. form the bank.