IndusInd Bank MoU with Indian Army

IndusInd Bank MoU with Indian Army

“We currently have 310 branches and plan to take the network to 700 by March 2014,” IndusInd Bank Managing Director Romesh Sobti said. He said, the bank would be adding over 100 branches during the current fiscal. As per the plan, he said branch network should go up to 425 by the end of March 2012.

IndusInd Bank signed a Memorandum of Understanding (MoU) for issuing salary accounts to personnel of all ranks of the Army with host of benefits. The bank will provide a full range of financial products and services to officers and jawans of the Army, Sobti said.

The salary account is tailor-made and provides various concessions on fee and interest to army personnel, he said, adding, the bank will also provide advances on concessional rate. Besides, inward remittance would be free of charge and even the bank will provide lifetime free credit card, he added.

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