Bank of India (BoI) signed a Memorandum of Understanding (MoU) with the Indian Coast Guard yesterday to introduce the “BOI Rakshak Salary/Pension Savings Scheme,” providing a defence service salary package.
The Indian Coast Guard was represented by Narendra Singh, Deputy Inspector General and Principal Director (Administration), and BoI was represented by Sharda Bhushan Rai, Chief General Manager, Head Office (Resource/Marketing/GBD) Mumbai, among others.
BoI’s Rakshak Package will provide numerous benefits to all ranks of the Indian Coast Guard, veterans, recruits and Agniveers, including personal accidental insurance coverage up to Rs 150 lakh, permanent total disability cover up to Rs 50 lakh, air accidental cover up to Rs 100 lakh, and permanent partial disability cover of Rs 25 lakh.
In addition, the bank will provide concessions on retail loans, processing fees and locker rentals.
