New Delhi, 16 January 2026: Punjab National Bank (PNB), Nation’s leading public sector bank, has renewed its MoU with Indian Army on 13th January 2026. Under the MoU, PNB will be offering a bouquet of services with enhanced insurance coverage and other benefits to all the serving personnel and pensioners of the Indian Army under the bank’s flagship scheme “PNB Rakshak Plus”.
The MoU was exchanged in the presence of Shri. Bibhu Prasad Mahapatra, Executive Director, PNB and Lt Gen Rajeev Puri, AVSM, VSM, Director General Manpower Planning & Personal Services (DG MP & PS) on behalf of Indian Army at the office of Additional General Personal Services (ADGPS) Directorate, Adjutant General’s Branch, Army Headquarters. MoU was signed by Shri. Sudhir Dalal, Chief General Manager PNB & Major General VK Purohit, AVSM, YSM, SM, Additional Director General Personal Services.
Maj Gen Dinesh Singh Bisht, SM, VSM*, Chief Defence Banking Advisor PNB was also present during the signing ceremony along with other senior officials of bank & Indian Army. The benefits offered are as follows:
Personal Accidental Insurance – Rs 100 lakhs
Air Accidental Insurance – Rs 150 lakhs
Permanent/Partial Disability Coverage – Rs 100 lakhs
Additional Cover of Death during Operations – Rs 10 lakhs
Apart from this, several other benefits are being offered in Retail loans, Debit Cards etc. to the dependents and families of Rakshak Account Holders.
The bank is dedicated in its commitment to honour the uniformed community and will strive to continue doing the same in future as well.
