Bank of Baroda Signs “MoU With The Indian Air Force” To Provide Specially Curated Salary Savings Accounts

* The MoU covers the Baroda Military Salary Package for Uniformed Personnel and Veterans 

Bank of Baroda (Bank), one of India’s leading public sector banks, today announced the signing of a Memorandum of Understanding (MoU) with the Indian Air Force (IAF) for Salary Savings Accounts. Under the MoU, Bank of Baroda will offer Baroda Military Salary Package for Uniformed Personnel and Veterans of the Indian Air Force. The MoU covers special benefits including enhanced free comprehensive Personal Accident Insurance cover (PAI), attractive offers on Retail Loans and a host of other benefits.  

The exchange of MoUs was held at the Indian Air Force auditorium at New Delhi in a ceremonial manner. The event was attended by the Chief of Air Staff, Air Chief Marshal Vivek Ram Chaudhari, PVSM, AVSM, VM, ADC, Air Vice Marshal Ashok Saini, VSM, ACAS (Accounts & Air Veterans) and Shri Vikramaditya Singh Khichi, Executive Director, Bank of Baroda.  

Shri Vikramaditya Singh Khichi, Executive Director, Bank of Baroda said, “Bank of Baroda is privileged and honoured to be able to offer our services to the Indian Air Force – one of India’s most respected institutions and the guardians of our skies. The Bank has a long-standing history of serving the Indian Armed Forces with best-in-class products and services and our specially curated salary accounts will enhance the banking experience for the Indian Air Force personnel and their family members. Backed by state-of-the-art digital solutions, an extensive branch network and the highest standards of customer service, we look forward to a long and rewarding relationship with the IAF.” 

The Baroda Military Salary Package includes lucrative benefits* like free comprehensive Personal Accident Insurance cover up to INR 105 Lakh for serving personnel and up to INR 70 Lakh for Veterans, Air Accident Insurance cover up to INR 100 Lakh for serving personnel, lifetime free Debit Card with unlimited free transactions at all Bank ATMs, lifetime free Credit Card, Yoddha Retail Loans at ROI independent of CIBIL based pricing and other attractive loan offers and the Baroda Radiance Premier Banking Program extended to Gallantry Award Winners and Higher Ranks (Group Captain and above) irrespective of Relationship Value.  

Other benefits* include 50% waiver on Locker Rentals, Free Remittances – RTGS / NEFT / IMPS (through all modes), 100% waiver on Demat Annual Maintenance Charges etc.  

*Terms & Conditions Apply * The pathbreaking initiative will help in skilling and training the local talent pool across the urban-rural boundaries for Oracle applications development 

3i Infotech Limited (BSE: 532628, NSE: 3IINFOLTD), a global Information Technology company, committed to delivering business transformation, has unveiled its first Centre of Excellence (CoE) for Oracle applications development in Tirunelveli, Tamil Nadu with the aim to address the huge skill shortage faced within the industry. Named ‘NuRe Park Tirunelveli’, it is the first of the Hub & Spoke network to be launched across India and globally. The impetus is to expand this in Tier-3 cities across the world, with the potential of creating employment opportunities on par with those available in Tier-1 cities and building a strong talent pool across emerging technologies. 3i Infotech plans to further expand its operations not only in India but rest of the world with this model in place. 

NuRe Park Tirunelveli will house the Oracle CoE across cloud, cybersecurity, Application, Automation and Analytics. As part of obtaining benchmarking industry certifications, the engineering graduates will go through specialized Oracle certification from Oracle University and real time industry experience. Among the industry-first initiatives by a technology company in India, this launch comes at the back of the company’s earlier announcement on its plan to setup multiple CoEs in the coming year. 

With the emergence of the ‘New-Normal’ and the hybrid, work-from-anywhere work culture post the pandemic, talent is no longer restricted to metros and Tier-1 cities. Hence, opening of these world-class global CoEs will help in building the talent ecosystem in Tier-3 cities, without the need for these local talent to relocate. It would give them equal exposure on working on global clients, best-of-breed technologies and upskilling themselves like their counterparts in metros. The company has also initiated an employee engagement program for hybrid workforce and have a women talent recognition program to foster a diverse work culture. 

3i Infotech has developed employability ecosystem integrating hiring & training partners, colleges & skill providers, government depts. and IT infra providers. Through their CoE internship & CoE talent incubator program, the company aims to bring in industry-ready and right-skilled talent at scale through a closer collaboration between academia and corporate organisations. 

Tirunelveli city has several engineering institutions and has established itself as a hub for high-tech education in South India, making it an optimal location for setting up the campus. This initiative is built on 3i Infotech’s business ethos of ‘innovate, incubate, invent’ and its goal of skilling and providing job opportunities across the urban-rural boundaries. This facility is setup at Tiliconveli Tech Park in Tirunelveli in partnership with Mikro Grafeio Services Pvt Ltd, 3i Infotech’s infra partner, which is a leading workspace & workforce solution company, to manage its talent acquisition by hiring and training fresh graduates from Engineering/Arts & Science colleges in and around Tirunelveli, Tuticorin, and Kanyakumari districts. 3i Infotech will be a client to similar companies. 

Thompson Gnanam, Managing Director & Global CEO, 3i Infotech said, “This is a major milestone in 3i Infotech’s journey of becoming a $1 billion organisation by 2030. These CoEs represent excellence in technology, people, and processes. We want to build an ecosystem within these Tier-3 cities that are on par, if not better than those available in the Tier-1 cities and provide the local talent with all the facilities, know-how and opportunities for them to excel and be industry-ready. It will provide an environment that is truly global – fostering innovation and creativity. In this endeavour, we are excited to launch our first Tirunelveli campus connect incubator, which will serve as a pioneering centre and a model for CoE Hub & Spoke. In the long term, we will look to replicate this Tirunelveli model in US, Europe, and the rest of the world.” 

“With this CoE, the local talent from the region will get a hands-on experience on working for our global clientele, skilling them for job readiness – acting as a bridge from campus to corporate transformation”, he further added. 

The upcoming NuRe Park CoEs will focus on multiple domains and technologies. For instance, 3i Infotech has a CoE and lab setup in collaboration with a leading research park in India focussed on 5G and cognitive computing. It is also investing in insurance CoE to offer end-to-end solution on cloud platform and will also build CoEs for Credit Union, Mortgage and Capital Markets.