Mumbai: Bharat’s leading public sector lender, Bank of India (BOI), has inked a Memorandum of Understanding (MoU) with the Border Security Force (BSF) to offer its exclusive Rakshak Salary Package to BSF personnel and veterans. This collaboration aims to provide enhanced financial protection and exclusive banking benefits tailored specifically for those serving the nation’s borders.
Key Benefits Under the MoU
The agreement introduces several valuable benefits for BSF personnel, including:
- Comprehensive Personal Accident Insurance (PAI) Cover, enhanced and provided free of cost
- Air Accident Coverage up to ₹2 crore
- Attractive offers on Debit and Credit Cards
- A range of other financial incentives and privileges to support BSF members
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MoU Signing Ceremony at BSF Headquarters
The MoU was formally exchanged on October 10, 2025, at the BSF Headquarters in New Delhi. The ceremony was presided over by Mr. Vijay Kumar Thapliyal, Inspector General (Administration), BSF. Other dignitaries included Mr. Mahendra Kumar, DIG (ADMN – BSF) and Mr. Lokesh Krishna, General Manager, Bank of India, along with senior officials from both organizations.
During the event, IG Thapliyal expressed his appreciation to BOI for extending comprehensive services to the BSF and suggested the establishment of BSF-friendly BOI branches in key BSF locations to further enhance service delivery.
BOI Reiterates Commitment to Serving BSF Personnel
Addressing the gathering, Mr. Lokesh Krishna, General Manager of Bank of India, said:
“We are honored to collaborate with the Border Security Force and are committed to delivering the best banking solutions through the Rakshak Salary Package. Our advanced digital infrastructure and dedicated customer service will ensure BSF personnel and pensioners receive seamless banking experiences.”
He also urged BSF pensioners to utilize BOI’s Doorstep Banking Services for hassle-free access to banking facilities.
About Bank of India’s Rakshak Salary Package
The Rakshak Salary Package by Bank of India is designed specifically for Defence Forces, Paramilitary, and State Police personnel. Key features include:
- Personal Accident Insurance cover of up to ₹1 crore
- Air Accident Insurance of ₹2 crore
- Exclusive offers on loans and banking products
- Priority banking services supported by digital platforms
About Bank of India
Established in 1906, Bank of India is one of the oldest and most trusted public sector banks in India. With a widespread network of branches and ATMs across the country, BOI offers a wide range of banking and financial services catering to retail, corporate, and government clients. The bank is committed to empowering diverse customer segments, including defence personnel, with tailored financial solutions backed by modern technology and excellent customer service.
