Punjab Sind Bank has signed an agreement with the Indian Army regarding the salary account; soldiers and Agniveers to get these new benefits
Punjab Sind Bank has signed a preliminary agreement with the Indian Army on the Defense Salary Package. Apart from many other features, the MoU provides personal accident insurance (death/disability) cover of up to Rs 1 crore and air accident cover of Rs 1.2 crore to serving personnel, veterans, and trainees. Let's know about the whole news.
Government-owned Punjab & Sind Bank has signed a preliminary agreement with the Indian Army regarding the Defense Salary Package. Under this, facilities will be provided which include free insurance cover. Let's know about them.
Other than many other features, the MoU provides cover of up to Rs 1 crore for personal accident insurance and death/disability and Rs 1.2 crore for air accidents to serving personnel, veterans, and trainees. Punjab & Sind Bank MD & CEO Swarup Kumar Saha told news agency PTI-
"PSB Gaurav Savings SB Salary Account is specially designed for serving and retired personnel to meet their special banking needs. The product also aims at attracting Agniveers enrolled under the Agneepath scheme, thus making available comprehensive financial solutions tailor-made for the sector."
He further said that through this product, the bank has also recognized the sacrifice of Veer Nari, the wife of a martyr, and all of them have been offered the same benefits as pensioners. The lenders also launched demat services through its wealth-tech partner, Fisdom, allowing its customers to invest in equity markets and buy mutual funds. It signed an MoU with Maruti Suzuki India for vehicle loans on its digital lending platform named 'Maruti Suzuki Smart Finance.' The Delhi-based lender also entered an agreement with IIM Amritsar to promote academic research and industry interaction.
