PNB Signs MoU with Assam Rifles to Offer Enhanced Banking & Insurance Benefits to Personnel

Shillong, May 21, 2026: Punjab National Bank (PNB) has signed a Memorandum of Understanding (MoU) with the Directorate General Assam Rifles (DGAR) in Shillong to provide a comprehensive range of banking and financial benefits to Assam Rifles personnel.

The strategic partnership aims to strengthen financial security and welfare support for serving personnel and their families through enhanced insurance coverage, health insurance benefits, and concessional retail loan offerings.

The MoU signing ceremony was held in the presence of Lt General Vikas Lakhera, AVSM, SM, Director General Assam Rifles, along with Maj Gen DS Bisht, SM, VSM* (Retd), Chief Defence Banking Advisor, and Shri Sanjeev Bhardwaj, General Manager, PNB.

The agreement was formally signed by Brig Sandip Chatterjee, SM, on behalf of DG Assam Rifles, and Mr. Bijender Singh, Zonal Manager, Guwahati, representing PNB.

Under the agreement, Assam Rifles personnel will gain access to a bouquet of exclusive financial services and customized banking solutions designed specifically for defence personnel. These include higher insurance protection, improved healthcare-related insurance support, and attractive concessional rates on retail loan products.

The collaboration reflects PNB’s continued commitment to supporting India’s armed and paramilitary forces through dedicated banking solutions and welfare-oriented financial services.

Industry experts believe such partnerships play a crucial role in improving financial inclusion and long-term economic security for defence personnel across the country.

Key Highlights of the MoU

Enhanced insurance coverage for Assam Rifles personnel
Health insurance benefits for serving members and families
Concessional offers on retail loan products
Dedicated banking solutions for defence personnel
MoU signed in Shillong in the presence of senior officials from PNB and Assam Rifles