Indian Army and PNB Sign MoU

Retired and serving Army personnel to benefit from MoU signed between Indian Army and Punjab National Bank.

The Indian Army and Punjab National Bank (PNB) have signed a Memorandum of Understanding (MoU) on the Defence Salary Package. The MOU was signed on January 8.

The signing ceremony was chaired by the Adjutant General, Lt Gen Ashwani Kumar and was attended by top dignitaries of PNB headed by Mr Naveen Kumar.

A number of additional facilities have been incorporated in the MoU after concerted efforts.  The Army hopes this MoU will benefit a large number of serving and retired Army personnel who have accounts with PNB and also provide them an opportunity to access modern banking facilities.

Salient features of the improved and updated MoU are free ‘RAKSHAK PLUS’ Scheme for serving persons and veterans, overdraft facility range from Rs 0.75  to Rs 3.0 lakhs, multicity ‘At Par’ cheques, instant credit of outstation cheques, preferential allotment of lockers at concessional AMC and free SMS alerts.