New Delhi: Punjab National Bank (PNB) has renewed its Memorandum of Understanding (MoU) with the Indian Army, strengthening its long-standing partnership and extending enhanced financial and insurance benefits to serving personnel and pensioners under the bank’s flagship scheme PNB Rakshak Plus.
The MoU was exchanged on January 13, 2026, at the office of the Additional Director General Personal Services (ADG PS) Directorate, Adjutant General’s Branch, Army Headquarters. The ceremony was held in the presence of Shri Bibhu Prasad Mahapatra, Executive Director, PNB and Lieutenant General Rajeev Puri, AVSM, VSM, Director General Manpower Planning and Personal Services, representing the Indian Army.
The agreement was formally signed by Shri Sudhir Dalal, Chief General Manager, PNB, and Major General V. K. Purohit, AVSM, YSM, SM, Additional Director General Personal Services.
Also present during the signing ceremony was Major General Dinesh Singh Bisht, SM, VSM, Chief Defence Banking Advisor, PNB, along with senior officials from both PNB and the Indian Army.
Under the renewed MoU, PNB will continue to provide comprehensive banking solutions and enhanced insurance coverage to all eligible Indian Army personnel and veterans. The PNB Rakshak Plus scheme aims to offer customized financial services, priority banking facilities and security-oriented insurance protection to meet the unique requirements of defence personnel.
The renewal of this partnership further reinforces PNB’s commitment to supporting the armed forces and contributing to the financial well-being of soldiers and their families across the country.