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Bank of India (BOI) Signs MoU with IA to Boost 'Rakshak Salary Package' Benefits.

Banking & Finance | Dated: 10 Mar 2025

On March 04, 2025, the Bank of India (BOI), based in Mumbai (Maharashtra), signed a Memorandum of Understanding (MoU) with the Indian Army (IA) to offer the BOI 'Rakshak Salary Package' to Army Personnel, Veterans, and Agniveers recruited under the Agnipath Scheme in New Delhi (Delhi).

🎯 Key Highlights:

- Bol's Rakshak Salary Scheme is a specialized salary account designed for defence and paramilitary personnel, focusing on delivering enhanced financial benefits and services to the armed forces community.
- The signing ceremony was chaired by Lieutenant General Rajeev Puri, Director General (DG) (Military Police, MP & Provost Services, PS), IA, and was attended by Major General VK Purohit, Additional Director General (ADG) of Police (Provisioning Services, PS), and Subrat Kumar, Executive Director (ED), BOI.

💡 Other Important Facts:

(i) The key benefits of the Rakshak Salary Package include enhanced free comprehensive Personal Accident Insurance (PAI) coverage up to Rs. 100 lakh and air accident coverage up to Rs. 200 lakh.
(ii) It offers attractive deals and concessions on BOI debit and credit cards, along with a range of other benefits tailored for defence personnel, paramilitary, and state police forces.
(iii) The Agnipath Scheme, launched by the Government of India (GoI) in June 2022, is a recruitment initiative for soldiers below the rank of commissioned officers across the IA, Indian Navy (IN), and Indian Air Force (IAF).

📚 Test Your Knowledge:

Recently, Which Bank signed an MoU to boost the 'Rakshak Salary Package' benefits?

Correct Answer: Bank of India (BOI)

🚀 Quick Recap:

About Bank of India (BOI)

MD & CEO : Shri Rajneesh Karnatak
Headquarter : Mumbai