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Why in the News?
Ministry of Defence signs MoU with Bank of Baroda and HDFC Bank to expand the reach of the SPARSH initiative.
Key Points:
About
SPARSH Initiative
- SPARSH is a web-based system for processing pension claims and crediting the pension directly into the bank accounts of defence pensioners without any external intermediary.
- It has been designed to give Defence Pensioners a transparent view of their pension account, through an online portal.
