PNB Rakshak Plus: Insurance for Indian Army heroes – Accidental coverage now up to Rs 1.5 crore – More enhanced benefits!
Public sector bank Punjab National Bank has enhanced the insurance coverage and other benefits for all serving personnel of the Indian Army under its flagship scheme – “PNB Rakshak Plus”.
The country’s leading public sector bank’s move to enhance such benefits, aimed at further strengthening its support to the armed forces, came into effect from April 1, 2024.
The addendum to the existing MoU was signed by PNB Chief General Manager Sunil Agrawal and Major General V K Purohit, AVSM, YSM, SM, Additional Director General Personal Services.
On this occasion, others present were PNB Executive Director Kalyan Kumar and Lt. Gen. V Sreehari, AVSM, SC, SM, Director General Manpower Planning & Personal Services, and other senior officials from the Bank and the Indian Army at the office of the Additional Director General Personal Services (ADG PS) Directorate, Adjutant General’s Branch, Army Headquarters.
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Enhanced benefits of PNB Rakshak Plus for all serving personnel of the Indian Army includes:
Under the addendum as part of a revised MoU, personnel of the Indian Army will now receive Air Accidental Insurance coverage of Rs 1.5 crore, and Personal Accident Insurance and coverage for total or partial disability of Rs 1 crore. Additionally, there is an extra cover of Rs 10 lakh for death during operations, Rs 10 lakh for the cost of imported medicines including transportation, and Rs 10 lakh for air ambulance costs.
These revised benefits under the MoU highlight the ongoing efforts of the Indian Army and Punjab National Bank to offer substantial support and reassurance to the armed forces community, in recognition of their invaluable service
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