PNB Disburses Rs 17 Cr under Rakshak Plus Scheme

New Delhi, Jun 18 (PTI) State-owned Punjab National Bank on Wednesday said it has extended support of Rs 17.02 crore to the families of 26 deceased defence and paramilitary personnel under its flagship Rakshak Plus Scheme as of June 11 this year.

This reaffirms the bank's unwavering support to the brave soldiers protecting India, PNB said in a statement.

Among the 26 recipients were the families of operations like Birli Gali, who made the supreme sacrifice while serving the nation.

PNB's Rakshak Plus Scheme provides financial coverage in the form of personal accidental insurance of Rs 1 crore in case of death, permanent total disability and air accidental coverage of Rs 1.5 crore in the event of death, the lender said.

The scheme includes partial disability coverage and comprehensive benefits tailored to the needs of those in uniform, it said.

PNB CGM (BARM) Binay Gupta said, "It is our solemn duty to stand by the families of our martyrs. Through the Rakshak Plus Scheme, PNB offers more than financial assistance -- it serves as a symbol of our respect and enduring support for their immense sacrifices".

In line with the bank's commitment to honouring national heroes, the lender said PNB continues to ensure timely financial support to the bereaved family.