A Memorandum of Understanding (MoU) was signed between the Indian Army and which bank on the former’s Defence Salary Package?

Option 4 : State Bank of India

A Memorandum of Understanding (MoU) was signed between the Indian Army and State Bank of India on the former’s Defence Salary Package. 

Important Highlights of the MoU - 

• First MoU was signed in 2011. 
• It was renewed in February 2015. 
• It was signed to provide facilities to Indian soldiers and their families. 
• Under the provisions of MoU, free accidental cover will be provided. 
• The validity of this MoU is January 2019.
   

State Bank of India - 

• It was established on 1st July 1955. 
• Before 1955 it was known as Imperial bank. 
• Headquarter - Mumbai, Maharashtra 
• The Present Chairman of SBI is Dinesh Kumar Khara.