Axis Bank signs MOU with Indian Coast Guard


Bengaluru/Mumbai, 17 August2022:  Axis Bank, India’s third largest private sector bank,reinforced its commitmentto the Defencesectorby signinganMOU with the Indian Coast Guard,offering adefence service salary package withbest-in-class benefits and features underits‘’Power Salute’’ initiative.

The signing ceremony was held at the Coast GuardHeadquarters, with the Indian Coast Guard, represented by Deputy Inspector General Kajal Roy, Principal Director (Administration), in the presence of Additional Director General, Rakesh Pal PTM, TMand Axis Bank was represented by Ms. Tanu Malhotra,Executive Vice President andLt Col M.K Sharma, National Accounts Head. 

Through this exclusive Defence service salary package, Axis Bank will offer numerous benefits to all ranks ofthe Indian Coast Guard -Veterans, Cadets, Recruits-

  • Personal Accidental cover ofuptoRs.56 lakhsto all personnel, Veterans, Cadets, Recruits
  • Additional Children Education Grant uptoRs. 8 lakhs
  • Total Permanent Disability Cover benefit uptoRs.46 lakhs
  • Permanent Partial disability cover of uptoRs.46 lakhs
  • Air Accident cover of Rs.1 Crore
  • NIL Processing fee & 12 EMI waiver on Home loans
  • Zero Balance accounts for 3 family members with no charges
  • Universal account number across India wherein all Axis Bank branches will function as “Home branch’

The MOU is a reflection of Axis Bank’s constant endeavour to serve the Defence Forces and help them meet their financial requirements, aspirations and milestones. Axis Bank’s digital initiatives will enable the defence personnel at borders and other remote areas to stay connected and get easy access to its bouquet of financial solutions. 

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About Axis Bank:   

Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses. With its 4,759 domestic branches (including extension counters) and 10,161 ATMs across the country as on 30th June 2022, the network of Axis Bank spreads across 2,702 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge and Axis Bank Foundation.

For further information on Axis Bank, please refer to the website:

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