CURRENT AFFAIRS

Detailed explanation-1: -Mumbai: ICICI Bank renewed its Memorandum of Understanding (MoU) with the Indian Army, to offer a range of specially curated enhanced benefits and new features through its ‘Defence Salary Account’, to all serving as well as retired Army personnel. The MoU was signed in Delhi by Lt.

Detailed explanation-2: -The Indian Army has signed historic MoU with 11 Banks viz State Bank of India, Punjab National Bank, Bank of Baroda, IDBI Bank, ICICI Bank, HDFC Bank, Axis Bank, Yes Bank, Kotak Mahindra Bank, IDFC First Bank and Bandhan Bank for providing banking facilities to Agniveers on enrollment.

Detailed explanation-3: -“The MOU is a reflection of Axis Bank’s constant endeavour to serve the Defence Forces of India, and help them meet their financial requirements, aspirations and milestones, ” the company stated in its official press release announcing the exclusive package.

Detailed explanation-4: -Kotak Mahindra Bank signed an MoU with the Indian Navy for salary accounts.

Detailed explanation-5: -The correct answer is Axis Bank. Axis Bank has signed an MoU with the Indian Navy, offering a defence service salary package. Through the exclusive defence service salary package–Power Salute–Axis Bank will offer numerous benefits to all ranks of the Indian Navy, veterans and cadets.