SBI signs MoU with BSF

The biggest bank in India, State Bank of India (SBI) has announced that it has signed a Memorandum of Understanding (MoU) with the Border Security Force. According to this MoU, the serving and retired BSF personnel and family pensioners will receive special benefits through the Central Armed Police Salary Package (CAPSP) Scheme. In a press statement, it was also informed that according to this, it will also offer extensive benefits to the security forces including complimentary Personal and Air Accidental Insurance (Death) cover. An additional cover in case of on-duty death and Permanent Total Disability / Partial Disability cover will also be ensured. The Chairman of the State Bank of India (SBI), Dinesh Khara while informing about the MoU said: “We are humbled to partner with the Border Security Force and provide solutions that aim to benefit and ensure financial security for the BSF personnel and their families. It is an honour and a matter of pride for us to be associated with this force and offer a host of curated benefits through our Central Armed Police Salary Package (CAPSP), which ensures ease of access to banking facilities for them and their families.”