20-08-2016, 02:43 PM
State Bank of India, the country’s largest bank, the only Indian Bank to feature in the world’s top 100 banks and also the only Indian Bank to find a place in global Fortune 500 list, has today forged a stronger relationship with the Indian Army. Two of the oldest institutions in the country, both with long histories, have shared a relationship which goes back more than 200 years. Since the early 19th century the 3 Presidency Banks of Bombay, Calcutta and Madras were merged in 1921 to form the Imperial Bank of India, known for its integrity and lofty traditions in banking. Subsequently in 1955, the Imperial Bank of India was reconstituted and renamed as State Bank of India. This financial power house has been one of the principal bankers to the Indian Army and also to its personnel posted all over the country.
The salary of PBORs (Personnel Below Officers Rank) of the Indian Army is up to now paid to them on the Acqittance Roll system by which, only their monthly requirement is paid to them in cash and the rest accumulates with the government, usually until retirement. The Army is at present undergoing a pilot project with CGDA to convert this current cash system into a monthly salary payment system through Bank Accounts. This project also includes a complete computerization of their salary records which are being maintained manually.
The salary of PBORs (Personnel Below Officers Rank) of the Indian Army is up to now paid to them on the Acqittance Roll system by which, only their monthly requirement is paid to them in cash and the rest accumulates with the government, usually until retirement. The Army is at present undergoing a pilot project with CGDA to convert this current cash system into a monthly salary payment system through Bank Accounts. This project also includes a complete computerization of their salary records which are being maintained manually.