India Defence News, New Delhi, March 19, 2025 – In a significant step towards improving the welfare of its personnel, the Indian Coast Guard Headquarters in New Delhi signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) on March 19, 2025. The agreement aims to provide a comprehensive range of financial and insurance benefits to Coast Guard members, reinforcing support for those serving the nation’s maritime security.
A Milestone Partnership for Coast Guard Welfare
The MoU, formalized between the Indian Coast Guard and SBI (State Bank Of India), marks a milestone in ensuring enhanced financial security and banking convenience for Coast Guard personnel. The signing ceremony, held at the Coast Guard Headquarters, underscores the commitment of both institutions to support the men and women who safeguard India’s coastal borders.
Key Benefits for Coast Guard Personnel
Under the terms of the agreement, Coast Guard members will gain access to an array of benefits tailored to their needs. These include:
Term Life Insurance: A robust life insurance plan to provide financial security to the families of personnel in the event of unforeseen circumstances.
Enhanced Personal Accident Insurance (PAI) Coverage: Increased protection against accidents, ensuring comprehensive support for personnel engaged in high-risk duties.
Allied Banking Services: A suite of banking facilities designed to simplify financial management, including loans, savings schemes, and other customized offerings from SBI.
Strengthening Support for Maritime Guardians
The collaboration reflects a shared vision of empowering Coast Guard personnel with resources that complement their dedication and service. By partnering with SBI, one of India’s leading financial institutions, the Coast Guard aims to alleviate financial concerns, allowing its members to focus on their critical role in protecting the nation’s maritime interests.
Official Statements and Future Implications
On 19 Mar 2025, @IndiaCoastGuard Headquarters #NewDelhi signed a Memorandum of Understanding with #StateBankofIndia. This MoU provides an array of benefits to Coast Guard personnel, including term life insurance, enhanced PAI coverage alongwith various allied banking services,… pic.twitter.com/fWg4cVJ5c5
— Indian Coast Guard (@IndiaCoastGuard) March 20, 2025
While specific comments from officials were not detailed, the Indian Coast Guard’s official handle, @IndiaCoastGuard, highlighted the signing on social media, emphasizing its importance. The MoU is expected to set a precedent for similar partnerships, potentially expanding welfare initiatives across other defense and paramilitary forces in India.
As of March 30, 2025, this development continues to resonate as a proactive measure to honor and support the Coast Guard’s invaluable contributions to national security.