State-owned Punjab & Sind Bank in New Delhi has signed an initial agreement with the Indian Army on a defense pay package that will include a number of facilities, including free insurance cover.
To this end, a memorandum of understanding (MoU) has been signed.
Apart from many features, the MoU provides serving personnel, veterans and trainees with personal accident (death/disability) insurance cover of up to Rs 1 million and air accident cover of Rs 1.2 million. .
"PSB Gaurav Bachat SB Salary Account is uniquely designed to cater to the diverse banking requirements of serving and retired personnel. The product is also strategically aimed at leveraging Agniveers enrolled under the Agnipath scheme, ensuring a comprehensive financial solution that aligns with the distinctive needs of the segment," said Punjab & Sind Bank MD & CEO Swarup Kumar Saha.
Through this product, the bank also recognized the sacrifice of Veer Naari (spouse of the martyr) and provided them with all benefits similar to those of pensioners, he said.
During the bank's 117th Foundation Day celebrated on Monday, Saha said, the lender also introduced the PSB Pink debit card powered by RuPay for women with a host of benefits.
The bank has also started demat services through its wealth technology partner Fisdom, which allows its clients to make investments in the stock market and buy mutual funds.
The Delhi-based lender also signed an MoU with Maruti Suzuki India for vehicle loans through its digital lending platform 'Maruti Suzuki Smart Finance' and an agreement with IIM Amritsar to promote academic research and industry interactions.
The bank also launched a series of customer-centric digital offerings through its PSB UNiC omnichannel app, designed to ensure hassle-free and secure banking services.
Some of the offers include opening of savings accounts through video KYC, Bulk NEFT/RTGS, access to free CIC credit score and registration on UNiC app through Aadhaar OTP.
These new product initiatives, he said, are a testament to the bank's dedication to achieving positive social impact and creating a more sustainable future for all.
To this end, a memorandum of understanding (MoU) has been signed.
Apart from many features, the MoU provides serving personnel, veterans and trainees with personal accident (death/disability) insurance cover of up to Rs 1 million and air accident cover of Rs 1.2 million. .
"PSB Gaurav Bachat SB Salary Account is uniquely designed to cater to the diverse banking requirements of serving and retired personnel. The product is also strategically aimed at leveraging Agniveers enrolled under the Agnipath scheme, ensuring a comprehensive financial solution that aligns with the distinctive needs of the segment," said Punjab & Sind Bank MD & CEO Swarup Kumar Saha.
Through this product, the bank also recognized the sacrifice of Veer Naari (spouse of the martyr) and provided them with all benefits similar to those of pensioners, he said.
During the bank's 117th Foundation Day celebrated on Monday, Saha said, the lender also introduced the PSB Pink debit card powered by RuPay for women with a host of benefits.
The bank has also started demat services through its wealth technology partner Fisdom, which allows its clients to make investments in the stock market and buy mutual funds.
The Delhi-based lender also signed an MoU with Maruti Suzuki India for vehicle loans through its digital lending platform 'Maruti Suzuki Smart Finance' and an agreement with IIM Amritsar to promote academic research and industry interactions.
The bank also launched a series of customer-centric digital offerings through its PSB UNiC omnichannel app, designed to ensure hassle-free and secure banking services.
Some of the offers include opening of savings accounts through video KYC, Bulk NEFT/RTGS, access to free CIC credit score and registration on UNiC app through Aadhaar OTP.
These new product initiatives, he said, are a testament to the bank's dedication to achieving positive social impact and creating a more sustainable future for all.
