State Bank of India (SBI) has renewed the Memorandum of Understanding (AoU) with the Indian Air Force for the Defense Salary Package Scheme.

• SBI said in a statement on Wednesday that under this scheme, the bank will provide various benefits and facilities to all serving and retired personnel of the Air Force and their families.
• According to the statement, under the agreement with the Air Force, IAF personnel will be provided with comprehensive benefits such as personal accident insurance, air accident insurance, and additional ‘insurance cover’ in case of death in the line of duty.