New Delhi: For the first time, special ATM cards will be provided to over 12 lakh Army personnel by the State Bank of India which would enable them to withdraw salaries straight from their bank accounts.
Under an MoU signed between the Army and State Bank of India, soldiers will now be able to withdraw their salaries using ATM cum debit cards, instead of doing it manually from their units, Lieutenant General V K Chaturvedi, Director General, Manpower Planning and Personnel Services, said.
The 'Defence Salary Package' announced today will provide soldiers a lifelong bank account which they can operate from anywhere in the country, he said.
"The special multiple ATM-cum-debit cards can also be used by their families...It will significantly reduce the time taken in transferring the money from the place of duty of a soldier to his home," Chaturvedi said.
So far, over nine lakh personnel below officer rank, three lakh retired army officials and 25,000 officers have have registered for the special bank account.
"We are also planning to install Point of Sales (PoS) machines at more than 5,000 CSD stores across the country to help them make best use of the ATM cards. So far 110 such machines have already been placed," SBI's Deputy Managing Director Diwakar Gupta said.