OREANDA-NEWS. February 07, 2011. HDFC Bank,  the country’s second largest private bank,  today signed a Memorandum of Understanding (MoU) with the Indian Army to offer them  salary accounts and a suite of banking products and services.  Mr. Rahul Bhagat, Country Head, Retail Liabilities, Marketing & Direct Banking  Channels, HDFC Bank and  Lt General VK Chaturvedi, PVSM, AVSM, SM, Director  General (MP & PS), Indian Army signed the MOU on behalf of HDFC Bank and the  Indian Army respectively,  in the presence of  Lt General Mukesh Sabharwal, PVSM,  AVSM **, VSM, Adjutant General.

As a part of the 'Defence Salary Advantage Account', the bank is offering a  comprehensive savings account and a host of products that includes pension accounts,  loans, wealth advisory services and a wide range of debit and credit cards. In addition,  all Army personnel have unlimited free access to other bank ATMs and a personal  accident insurance cover of Rs. 5,00,000.

Speaking on the occasion, Mr. Rahul Bhagat said, “HDFC Bank is delighted to reinforce its partnership with the Indian Army. Army personnel make immeasurable sacrifices to  make us secure. We, at HDFC Bank, will strive to provide them with world class  products and services, supported by cutting edge technology and best-in-class customer  service. We owe a debt to our men and women in uniform. This offer is to all Indian  Army personnel, both serving and retired.”