Bank of India Signs MoU with Indian Army to Offer BOI Rakshak Salary Package to Personnel, Veterans, and Agniveers

Bengaluru, March 6^th 2025: Bank of India, one of India’s leading public sector banks, announced the signing of a Memorandum of Understanding (MoU) with the Indian Army to extend the BOI Rakshak Salary Package to Army Personnel, Veterans and Agniveers recruited under the Agnipath Scheme. The MoU covers special benefits including enhanced free comprehensive Personal Accident Insurance Cover (PAI), attractive offers on Debit and Credit Cards and a host of other offers.

The ceremony for the exchange of MoUs was held on 4^th March, 2025 at the Indian Army Headquarters, New Delhi. Lt. Gen. Rajeev Puri, AVSM, VSM, DG (MP & PS) of the Indian Army chaired the ceremony. The event was also attended by Major Gen. V K Purohit, ADG PS, Shri Subrat Kumar, Executive Director, Bank of India and other Senior Officials of both the organisations.

Lt. Gen Rajeev Puri thanked BOI for extending the bouquet of services to Indian Army. He also suggested to have some Defence Friendly Branches of the Bank at Army Dominant areas.

Shri Subrat Kumar, Executive Director Bank of India said, “We are proud to be associated with the Indian Army and happy to extend the Benefits of our Rakshak Salary Scheme. He assured best banking products and customer service, supported by state-of-the-art digital infrastructure.” He also urged that Army Pensioners should avail the benefits of BOI Door Step Banking. On Behalf of Bank of India he expressed his gratitude towards the Indian Army.

BOI’s Rakshak Salary Scheme is a specially crafted salary account for personnel working in Defence Forces, Paramilitary, and State Police. It offers free personal accidental insurance cover of up to ₹100 lakhs, free air accidental coverage of ₹200 lakhs, along with many other privileges and concessions, with applicable terms and conditions.