Hello sir I want to know about the Indian Army MoU of Punjab National Bank so please provide me information about this memorandum.

The Indian Army today inked a Memorandum of Understanding (MoU) with state-owned Punjab National Bank for defence salary package that will also give benefit on personal accidental insurance coverage.

PNB Rakshak Scheme

Zero balance Account

Life time unique number

Sweep allowed after Rs.10000/ OR

O/D facility of upto sum of last two months net salary

Concession in margin on Home Loan: 5% (Upto Rs.50 Lacs)

International Debit cum ATM Card with insurance cover

Free transfer of funds

Unlimited cheque book facility

Concession in locker charges

On line trading

Internet Banking

RTGS/NEFT: Free

Outstation Cheque instant credit: Rs.25000/-

Other attractive freebies/concessions:

ATM cum Debit Card: Free Debit/ATM Card and no Annual maintenance charges.

Transactions at ATM: Any Number of transactions with a maximum cash withdrawal limit of Rs. 40,000/- per day

Free Retail Internet Banking facility, however, charges applicable to third party sites like Railways etc. are payable

Free Cheque Books for routine requirements (except bulk requirements for loans to be availed at any other bank- in that case normal cheque book charges would be levied)

RTGS/NEFT: Free

Concession in Locker Charges for small locker only: 25%

Draft issue – number of free drafts with a ceiling of Rs. 25,000 per draft subject to draft issue through their salary Account (Not applicable for cash entries): 5

Waived Demat account maintenance charges for first year only
At par collection of cheque in respect of Salary /TA /DA /Arrears /Terminal Dues

Standing Instructions: Free (within same branch)

Pass Book: Available