MoD inks MoUs with 4 banks to onboard them as SPARSH service centres across 1,128 branches.

Banking & Finance

The Defence Accounts Department (DAD) of the Ministry of Defence has signed MoUs with four banks to onboard them as SPARSH service centres across 1,128 branches of these banks in the country, officials said. The System for Pension Administration (RAKSHA) or SPARSH is a web-based system for processing pension claims and crediting the pension directly into the bank accounts of defence pensioners without any external intermediary.


      The MoUs will provide last-mile connectivity to pensioners, especially in remote areas where they do not have the technical wherewithal to log on to SPARSH.

      The access to these centres would be provided free of cost, with nominal service charges being borne by the DAD, it said.

     

 

     


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