CISF Signs MoU With SBI To Manage Salary Accounts Of Force Personnel

By Mahek | Published on May 24, 2025

Breaking News / May 24, 2025

CISF Signs MoU With SBI To Manage Salary Accounts Of Force Personnel

CISF signs MoU with SBI to offer enhanced financial benefits, including insurance and zero-balance accounts, for serving and retired personnel under the CAPSP scheme.

New Delhi:

A significant step towards strengthening the welfare of Force members, the Central Industrial Security Force (CISF) today signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) for managing salary accounts of serving and retired CISF personnel under the Central Armed Police Salary Package (CAPSP).

The agreement introduces a host of enhanced financial benefits for CISF personnel, marking a major milestone in CISF’s ongoing commitment to the welfare and financial security of its members. These benefits come at zero cost to Force members and are in addition.

The MoU was formalised in a function held at CISF Headquarters, New Delhi, where it was signed for a period of three years w.e.f. 23.05.2025 to 22.05.2028 by Rekha Nambiar, DIG/Adm, CISF, and Ranjana Sinha, General Manager(NRI & SP), SBI Corporate Centre, Mumbai, on behalf of SBI.

For the first time, benefits to retired personnel have been significantly enhanced. Important welfare benefits under the package include coverage for:

₹50 lakh personal accident insurance (death) cover

Zero balance account

Free debit card with no annual maintenance charges

Unlimited free transactions at SBI ATMs and 10 free transactions at other bank ATMs monthly

Free demand draft issuance

Optional auto sweep facility

10% concession on annual locker rent

Additional Covers applicable in case of accidental death, if Personal Accident Insurance (Death) claim is found admissible:

Cost of Plastic surgery in burn cases

Children's Higher Education (for Graduation)

Girl Child Cover for Marriage

Air ambulance: Maximum up to Rs. 10 Lakh

Ambulance charges: Maximum up to Rs. 50,000.

To ensure the timely delivery of benefits, a Complaint Redressal Mechanism is being put in place. A dedicated Relationship Manager from SBI (Advisor for CAPF& Police) will coordinate with a special cell under the Welfare Directorate, CISFHQrs, for smooth implementation and resolution of concerns related to CAPSP.

This MoU underscores the commitment of both CISF and SBI to the welfare of the force personnel and their families. SBI will also endeavour to establish/renovate CISF Campus or nearby Branches and provide the latest technology to facilitate efficient banking operations. Awareness programs will be conducted by SBI at various CISF establishments to inform personnel about the bank’s products and investment opportunities.