PNB Signs MoU with Indian Coast Guard to Offer Exclusive Benefits under ‘PNB Rakshak Plus’ Scheme
In addition to these, several other financial benefits and facilities will be extended to the dependents and families of Rakshak Account holders
Punjab National Bank (PNB), India’s leading public sector bank, has signed a Memorandum of Understanding (MoU) with the Indian Coast Guard on 16 September 2025 to extend specialized financial services and enhanced insurance benefits under its flagship scheme “PNB Rakshak Plus.”
The MoU was signed by S. P. Singh, General Manager, PNB and DIG Narendra Singh, Directorate of Indian Coast Guard, in the presence of Suresh Kumar Rana, Chief General Manager, PNB, along with senior officials from both organizations.
Key Benefits under PNB Rakshak Plus for Indian Coast Guard Personnel:
- Personal Accidental Insurance: ₹1 crore
- Air Accidental Insurance: ₹1.5 crore
- Term Life Insurance: ₹5 lakhs for all officers
- Permanent/Partial Disability Coverage: ₹1 crore
- Additional Cover for Death during Operations: ₹10 lakhs
In addition to these, several other financial benefits and facilities will be extended to the dependents and families of Rakshak Account holders.
Speaking on the occasion, PNB reaffirmed its commitment to serving India’s Armed Forces and Maritime Warriors, ensuring comprehensive financial protection and support to both serving personnel and pensioners of the Indian Coast Guard.
