State Bank of India and Indian Army signs MoU on Defence Salary Package [ Current Affairs ]

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State Bank of India (SBI) has signed a Memorandum of Understanding (MoU) with Indian Army on the Defence Salary Package (DSP). In 2011, signed MoU between SBI and Defence Salary Package which was valid for a period of three years. According to revised MoU, meets the requirements of serving soldiers, pensioners and their families and also including of banking services like drafts, cheque books, funds transfers to any other bank in India through Real Time Gross Settlement (RTGS), free ATM cards etc.

  1. State Bank of India and Indian Army signs MoU on Defence Salary Package is going to benefit 19.5 lakh pensioners and 10 lakh serving personnel which used to access modern banking facilities.
  2. Headquarter of SBI is Mumbai.
  3. SBI has total maximum of branches and also holds the second position in world.
  4. SBI to launch recently Islamic equity fund and also launch mPassBook facility.

- Published on: March 2, 2015