The Punjab National Bank has signed an Memorandum of Understanding (MoU) with the Indian Army to present key benefits to ‘Agniveers’. The financial institution has named the scheme PNB Agni Rakshak beneath which it’ll open a wage account for Agniveers. In a collection of tweets made yesterday, the financial institution mentioned, “PNB signed an MoU with the Indian Army to provide specially designed products to the Agniveers under the bank’s exclusive scheme ‘PNB AGNI RAKSHAK’. The signing ceremony of MoU was chaired by Lt Gen C. B. Ponnappa, AVSM, VSM (Adjutant General) along with senior Army Officers and officials from Ministry of Defence. MoU was exchanged between Lt Gen. V Sreehari, SC, SM, DG (MP & PS) on behalf of the Indian Army, and Shri Sunil Soni, CGM, PNB, in New Delhi.”
The PNB Agni Rakshak Account will present zero balance wage account to Indian Army’s Agniveers moreover an insurance cowl of up to Rs one crore. The scheme has been designed according to PNB’s present Rakshak Plus Scheme for Defence Personnel.
The zero balance wage account comes bundled with engaging banking companies equivalent to over-draft, sweep facility, debit and bank cards, lockers, cheque books, alerts and web banking and so on.
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The different free private unintended insurance price Rs 50 lakh protecting demise, whole and partial incapacity and Rs one crore price free air unintended (demise) insurance.
Other benefits included beneath private unintended insurance embrace youngster schooling, woman youngster marriage cowl, imported medication, cosmetic surgery and Rs 10 lakhs in case of terror assaults and so on.
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Agniveers are already entitled for a horny customised month-to-month package deal together with Risk and Hardship allowances as relevant within the three companies. On completion of the engagement interval of 4 years, Agniveers will probably be paid one time ‘SevaNidhi’ package deal which will probably be tax exempt. After their 4 12 months service, Agniveers will get Rs 11.71 lakhs. Agniveers will probably be supplied non-contributory Life Insurance Cover of Rs 48 lakh for the length of their engagement interval within the Indian Armed Forces.
