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Press Release

YES BANK signs MoU with Assam Rifles for offering banking solutions to defence personnel

Will offer its special banking programme, YES VIJAY to Officers, JCOs and Jawans of Assam Rifles


  • Savings Account: Superior interest rates on Savings Accounts with no minimum balance requirement

  • Cash Management Solutions for CSDs, Defence Clubs and Schools

  • Preferential Interest Rates:  Preferential interest rates for loans and fixed deposits

  • Free unlimited ATM cash withdrawal

  • No IMPS or NEFT  transaction charges: Multi-channel 24/7 easy Digital Banking service access with no IMPS or NEFT transaction charges levied

  • Enhanced Personal Accidental Insurance cover of Rs. 30 lakh for serving personnel

  • Wealth Advisory: Financial advice across Mutual Funds, Life and General Insurance and Equity markets

Shillong, February 8, 2018: YES BANK, India’s fifth largest private sector Bank, signed a Memorandum of Understanding (MoU) with Assam Rifles to provide the customised banking solution, to officers of the force and their family members.

The MoU was signed by Pralay Mondal, Senior Group President, Retail and Business Banking, YES BANK and Director General Assam Rifles, Lieutenant General Shokin Chauhan, AVSM, YSM, SM, VSM in the presence of Lt. General Mukesh Sabharwal, PVSM, AVSM, VSM, Adjutant General Indian Army and other senior Army and YES BANK officials.

L-R: Brigadier R N Mathur, Personnel, Assam Rifles; Major Gen R K Gupta, ADG, Assam Rifles; Maj Gen M Ramesh Babu (Retd), Strategic Advisor, YES BANK; Lt Gen Shokin Chauhan, AVSM, YSM, SM, VSM, Director General, Assam Rifles; Pralay Mondal, Senior Group President & Head – Retail & Business Banking, YES BANK; Nikhil Sahni, Group President & National Head – Government Banking & Branch Banking and Harit Johri, President, Branch Banking

Speaking on the occasion, Pralay Mondal, Senior Group President – Retail and Business Banking, YES BANK, said “We are honoured to sign this MoU with Assam Rifles which is the oldest paramilitary force in India. Defence Personnel need specific financial guidance to suit needs that are unique to their lifestyle. At YES BANK, we follow a novel knowledge-based approach to provide our customers well-researched customized solutions - YES-Vijay programme for Defence Personnel is an outcome of this philosophy. The officers of Assam Rifles and their family members can now enjoy finest banking experience with YES BANK as their trusted partner.”

Under YES-Vijay programme for Defence Personnel, YES BANK offers digitally-powered zero balance Savings Account to all defence personnel with unlimited free ATM transactions in India. When compared to other large banks, YES BANK offers up to 70% higher return on Savings Interest rate with balances of INR 1 lakh and above attracting interest rate of 6% p.a. YES BANK has also increased the personal accident cover for serving Defence personnel from the existing Rs. 5 lakh cover to Rs. 30 lakh. Additionally, YES BANK will offer a host of cash management and POS solutions to CSDs, Defence clubs and Schools.

YES BANK is present in more than 30 defence locations across the country. The Bank has recently opened full-fledged branches in the prestigious National Defence Academy, Pune and Infantry School, Mhow.


YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.

For more information, please visit the Bank’s website at

Swati Singh

Jyothi Goswami

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