Leading private sector lender Axis Bank on Wednesday said it signed a memorandum of understanding (MoU) with the Kolkata Police, offering a package with benefits and features under ''Power Salute'', a salary account designed for the personnel of the force.
Under this initiative, Axis Bank will offer personal accidental cover of up to Rs 30 lakh to all police personnel, up to Rs 8 lakh education grant, total permanent disability cover benefit up to Rs 30 lakh, same cover for permanent partial disability and Rs 1.5 lakh life insurance cover and a few other benefits, the bank said in a statement.
The MoU was signed between Police Commissioner Soumen Mitra and Axis Bank MD & CEO, Amitabh Chaudhry, at the city police headquarters.
According to the statement, the MoU is a reflection of Axis Bank’s constant endeavour to serve the police personnel and help them meet their financial requirements, aspirations and milestones.
(With inputs from PTI)