New Delhi, January 8: The Indian Army and HDFC Bank have officially renewed their Memorandum of Understanding (MoU) to continue providing specialized banking services and comprehensive insurance benefits to both serving and retired military personnel.
This strategic agreement has been extended for an additional three years, ensuring coverage until January 2029. Under the revised terms, the bank offers an enhanced Personal Accidental Insurance (PAI) cover of ₹1 crore, which now includes Agniveers and pensioners in the event of accidental death or permanent disability.
Additionally, the partnership provides an Air Accident Insurance (AAI) cover of ₹1 crore and significant social security benefits, such as a ₹5 lakh Child Education Cover and a ₹5 lakh Girl Child Marriage Cover.
This renewed collaboration highlights the Indian Army’s ongoing commitment to safeguarding the financial future and welfare of its soldiers and their families through robust institutional support.
