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Army promoted banks of irregulars to guard monarch (8)

Ross

I believe the answer is:

soldiers

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'army promoted banks of irregulars to guard monarch' is the definition.
I can't judge whether this definition defines the answer.

'promoted banks of irregulars to guard monarch' is the wordplay.
'promoted' becomes 'sold'.
'banks of' says to hollow out the word (remove centre letters) (the banks are the sides of the word).
'to guard' indicates putting letters inside.
'monarch' becomes 'er' (abbreviation for Elizabeth Regina, British Queen).
'irregulars' with its middle removed is 'is'.
'is' enclosing 'er' is 'iers'.
'sold'+'iers'='SOLDIERS'

Can you help me to learn more?

(Other definitions for soldiers that I've seen before include "Military personnel" , "Troopers" , "men" , "Army fighters" , "More than one fighter" .)

I've seen this clue in The Telegraph.
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