Bandhan Bank Shares in Focus; Signs MoU With Indian Air Force for Defence Salary Accounts

Bandhan Bank has signed a Memorandum of Understanding (MoU) with the Indian Air Force (IAF) to offer the Shaurya Salary Account, a specially designed corporate salary account for defence personnel, as per news reports.

Exclusive Banking Benefits for IAF Personnel

Under this partnership, Indian Air Force personnel will gain access to a Zero Balance savings account, financial protection for themselves and their families, and competitive interest rates across Bandhan Bank’s extensive network of 1,700+ branches.

Strengthening Ties with the Defence Sector

Beyond the Shaurya Salary Account, Bandhan Bank is also a SPARSH Service Centre, assisting defence pensioners through its association with the Controller General of Defence Accounts (CGDA). With 557 designated branches, the bank offers vital pension-related services, reinforcing its commitment to the armed forces.

Bandhan Bank’s Expanding Role in Government Banking

Bandhan Bank has been appointed as an Agency Bank by the Reserve Bank of India (RBI) and is authorised by the Central Boards of Direct and Indirect Taxes for tax collections.

Additionally, the bank facilitates the disbursement of Central Civil Pensions and Railway Pensions, further strengthening its position as a trusted banking partner for government institutions.

Share Price Performance

Bandhan Bank Limited’s share price stood at ₹149.26, reflecting a modest gain of ₹0.70 (0.47%). The stock opened at ₹147.00 and touched an intraday high of ₹149.45, while the low was recorded at ₹146.36.

Conclusion

This strategic partnership between Bandhan Bank and the Indian Air Force exemplifies the bank’s dedication to providing tailored financial solutions for defence personnel.

With a robust banking infrastructure, innovative digital services, and an unwavering commitment to customer service, Bandhan Bank continues to play a vital role in supporting India’s armed forces and government institutions.

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