Mumbai police shifted its personnel accounts to HDFC Bank
Mumbai police shifted its personnel accounts to HDFC Bank
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The Mumbai Police being one of the largest police forces in the country with nearly 50,000 personnel since 2003 was handling the account of its personnel in Axis Bank. An official announcement made recently tells the department will deposit salaries of their personnel in HDFC Bank from this month onwards. This means the account has been transferred from the Axis Bank to HDFC bank. 

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The Maharashtra government renewed the contract with Axis Bank for five years in 2015 during the Devendra Fadnavis reign. The opposition slammed the renewal saying it was because his wife Amruta worked at the bank. Amruta Fadnavis is the vice-president and corporate head (Western India) at Axis Bank now. Upon the end of MoU between Axis Bank and the Mumbai police on July 31, 2020 the department has shifted the accounts to HDFC. Amruta Fadnavis tweeted, "Let me reiterate-acquisition of police accounts by #Axis Bank Govt Dept (erstwhile UTI bank) was done merely on basis of Bank’s technology & services offered ! Mandate for these accounts was received way back in 2005 on 29th Oct! Dirty politics cannot bog down the honest & strong”.

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The government circular says the Mumbai Police found the proposal of HDFC bank most beneficial among the ones submitted by various banks and hence the choice made. An MoU was signed with the bank on October 21. The circular says the Mumbai Police personnel will get Rs 10 lakh life insurance cover in case of natural death or death due to COVID-19, Rs 90 lakh cover in case of accidental death and Rs 50 lakh cover for permanent half disability. 

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