Thursday, June 27, 2024

Bank of Baroda signs MOU with Naval Dockyard, Mumbai for Baroda Military Salary Package

Benefits include Personal Accident Insurance Cover and special offers on Yoddha Retail Loans for Salaried and Pensioner Naval civilian employees

Mumbai, June 26, 2024: Bank of Baroda (Bank), one of India’s leading public sector banks, today announced the signing of a Memorandum of Understanding (MOU) with Naval Dockyard, Mumbai to extend the Baroda Military Salary Package offerings to its Salaried and Pensioner Naval civilian employees. The MOU covers benefits including enhanced free comprehensive Personal Accident Insurance Cover (PAI), special offers on Yoddha Retail Loans, Debit and Credit Cards and a host of other benefits. 

The MOU was signed by Commodore Ratnish Satia, General Manager (HR),  Naval Dockyard and Shri Sunil Kumar Sharma, General Manager & Zonal Head - Mumbai Zone, Bank of Baroda.

The Baroda Military Salary Package offers many benefits to the Naval Dockyard, including Personal Accident Insurance Death Cover up to Rs.1.05 crore in case of accidental death on duty and up to Rs.90 lakh off duty. In addition, it provides Permanent Total Disability cover up to Rs.60 lakh. 

Shri Sunil Kumar Sharma, General Manager and Zonal Head – Mumbai Zone, Bank of Baroda said, “We are delighted to enter into an MOU with Naval Dockyard, Mumbai and look forward to serving the institution and its employees by providing a full range of banking products, backed by the highest standards of customer service.” 

Commodore AS Ahluwalia, Asst. General Manager (P&A), Naval Dockyard, Shri Manoj Gupta, Deputy General Manager (BD), Mumbai Zone, Brig (Dr) Sanjeev Devasthali (Retd), Defence Banking Advisor, Mumbai Zone, Shri V. B Jhalani, Regional Head (Mumbai Metro South Region), Mumbai Zone and Shri Vishal Gupta, Zonal Business Development Manager, Mumbai Zone, Bank of Baroda were also present during the signing ceremony amongst others.

About Bank of Baroda

Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of ~165 million through over 70,000 touch points spread across 17 countries in five continents and through its various digital banking platforms, which provide all banking products and services in a seamless and hassle-free manner. The Bank’s vision matches the aspirations of its diverse clientele base and seeks to instil a sense of trust and security in all their dealings with the Bank.

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