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 with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.

YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “BUILDING THE FINEST QUALITY LARGE BANK OF THE WORLD IN INDIA”.

Swati Singh
Ph.: +91 9874560033

Jyothi Goswami
Ph.: Mob: +91 9987036388

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