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PNB Signs MoU with Indian Air Force for ‘PNB Rakshak Plus Scheme’

Punjab Nationwide Financial institution (PNB), nation’s main Public Sector Financial institution, has signed a Memorandum of Understanding (MoU) with the Indian Air Force (IAF) to supply specifically designed merchandise to the defence personnel beneath the financial institution’s flagship scheme of ‘PNB Rakshak Plus‘. This scheme contains, inter alia, private unintended insurance coverage, air unintended insurance coverage to serving, retired and trainees of the defence forces, central armed police forces, state police power, metro police and retired defence pensioners.


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PNB indicators MoU with Indian Air Force


The settlement was exchanged between Shri Atul Kumar Goel, MD & CEO of PNB, and Chief of Air Employees, Air Chief Marshal Vivek Ram Chaudhari, PVSM, AVSM, VM, ADC on behalf of the Indian Air Force in a ceremony on the Indian Air Force Auditorium in Delhi.


Chief of Air Employees, Air Chief Marshal Vivek Ram Chaudhari, PVSM, AVSM, VM, ADC expressed gratitude for associating with PNB for signing of MoU.


Commenting on the collaboration, Shri Atul Kumar Goel, MD & CEO of PNB, mentioned, “This is a historic moment which gives PNB Parivar the opportunity to serve the nation in a befitting manner. At present, PNB provides support for the armed forces through 120 cantonment branches spread across the nation. Nine of these have been transformed into special branches honouring the martyrs-for instance, our Martyr Branch at Jalandhar, is named after Flying Officer Nirmal Jit Singh Sekhon, PVC (Posthumous) and takes utmost care of Armed Force Personnel. The financial needs of our valiant soldiers and their families residing in inaccessible and remote areas are further met by the expansive network of PNB. Additionally, we intend to operationalize more mobile ATMs, digital and doorstep banking for our warriors. This collaboration will only add to PNB’s unwavering commitment towards the Indian Air Force Personnel and Veterans.


The salient options of “PNB Rakshak Plus” embody:


  • Sweep Facility –

  • Preliminary threshold quantity – Rs. 10000/-

  • Minimal Sweep In/Out – Rs. 1000/-

  • Multiples of – Rs. 1000/-


  • No ‘Cash Handling Charges’ levied for transaction(s) implying thereby that each one branches of PNB, PAN-India, could be thought of as ‘Home’ department.

  • Overdraft upto final 3 months Internet Wage/Pension amounting from Rs. 75000 to Rs. 3 lakh.

  • Concession in fee of curiosity and repair prices beneath Housing, Automotive, Education and Private Mortgage Schemes.

  • Education mortgage beneath “PNB Pratibha” is obtainable for wards of a Main Account holder who take admission in premier Institutes and the Military Academic establishments.

  • Zero stability saving account to relations.

  • Concession in locker hire – 25% Annual Upkeep Costs (AMC) waived off for 3 years from date of situation.

  • Monetary help of Rs. 1 lakh per 12 months for 4 years or the precise expenditure whichever is much less, for schooling of two surviving and dependent youngster (Male/Feminine) of a PAI (Loss of life).

  • Limitless free DDs/POs with a ceiling of Rs. 50,000 per free DD/PO.

  • Gorkha personnel can remit quantity from his PNB a/c in India to their linked account in Everest Financial institution Restricted (EBL) at Nepal and vice-versa, freed from cost.

  • Free SMS Alerts for transactions within the account and on the linked Debit/Credit card(s).


Senior representatives from Financial institution & IAF, together with Air Marshal Okay Anantharaman, VSM, Air Officer in Cost of Administration, Air Vice Marshal Ashok Saini, VSM, PNB Govt Director Shri Vijay Dube and PNB CGM Shri Sunil Soni had been additionally current on the MoU Signing Ceremony.

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