The Defence Accounts Department signed a MoU with Bank of Baroda and HDFC Bank, to onboard them as Service Centres under the System for Pension Administration (Raksha) (SPARSH) initiative, across more than 14,000 branches throughout India.
- SPARSH is a web-based system for processing the 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 which captures and maintains a complete history of events and entitlements of the pensioner – right from the date of commencement of pension to the date of cessation of pension due to the last eligible beneficiary.
- This system is administered by the Defence Accounts Department through the Principal Controller of Defence Accounts (Pensions), Prayagraj and caters to all the three Services and allied organization.
- The system on roll-out is initially catering to the new retirees and subsequently is being extended to cover the existing defence pensioners.