PNB Signs MoU with Indian Coast Guard for Insurance Benefits

New Delhi | 19 September 2025: Punjab National Bank (PNB), a leading public sector bank, has partnered with the Indian Coast Guard. PNB signs MoU with Indian Coast Guard to offer more financial security and special benefits. The services will be provided under the bank’s flagship program, PNB Rakshak Plus.

Signing Ceremony with Senior Leaders

The MoU was signed on 16 September 2025. Shri S. P. Singh, General Manager, represented PNB. DIG Narendra Singh signed for the Indian Coast Guard. Shri Suresh Kumar Rana, Chief General Manager of PNB, also attended. Other senior officials from both sides were present as well.

Benefits Under PNB Rakshak Plus

The agreement brings strong financial cover to serving and retired Coast Guard personnel. Key benefits include:

• Personal Accidental Insurance: ₹1 crore
• Term Life Insurance: ₹5 lakh for all officers
• Air Accidental Insurance: ₹1.5 crore
• Disability Cover: ₹1 crore for permanent or partial disability
• Operational Death Cover: ₹10 lakh in case of death during duty

Dependents and families of account holders will also receive several added benefits.

PNB’s Commitment to the Force

PNB stated that this move goes beyond banking. It shows the bank’s respect and care for India’s maritime guardians. Through the PNB Rakshak Plus scheme, the bank aims to bring peace of mind to the brave men and women of the Indian Coast Guard and their families.

A Step Towards Greater Support

Officials from PNB underlined the importance of securing those who protect the nation’s seas. With this partnership, PNB signs MoU with Indian Coast Guard and takes another step in offering strong financial backing to India’s protectors.

Future Outlook

This collaboration highlights PNB’s promise to keep supporting the armed and paramilitary forces. By strengthening the PNB Rakshak Plus scheme, the bank ensures continued trust and safety for India’s maritime warriors.

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