Indian Navy, IDFC FIRST bank bring ‘Honour FIRST’ banking solutions

WHY IN THE NEWS?

• The Indian Navy has inked a Memorandum of Understanding (MoU) with the Infrastructure Development Finance Company (IDFC) First Bank to initiate ‘Honour FIRST’.
• ‘Honour FIRST’ is a premium banking solution for serving personnel and veterans of the Indian Navy. Designed especially keeping in mind the needs of the Armed Forces and its veterans, the Honour FIRST Defence Account is supported by a dedicated team of defence veterans.
• The MoU for Honour FIRST was signed at the Naval Headquarters in New Delhi between Commodore Neeraj Malhotra, Commodore – Pay and Allowances, Indian Navy and IDFC FIRST Bank’s senior officials.