Indian Army and Punjab & Sind Bank: The Indian Army and the government-owned Punjab & Sind Bank have signed the first agreement for a defense compensation package that comes with several advantages, such as complimentary insurance.
A memorandum of agreement (MoU) has been signed to achieve this.
Along with several other benefits, the MoU offers personal accident insurance (death/disability cover) up to Rs 1 crore and air accidental cover up to Rs 1.2 crore to serving personnel, veterans, and trainees.
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“The PSB Gaurav Bachat SB Salary account is specifically made to meet the unique financial needs of active and retired troops. Swarup Kumar Saha, MD and CEO of Punjab & Sind Bank told PTI that the product is also deliberately intended to reach Agniveers enrolled in the Agnipath plan, guaranteeing a holistic financial solution that corresponds with the unique demands of the category.
According to him, the bank has also honored Veer Naari’s (the martyr’s spouse) sacrifice by offering them all the benefits of pensioners through this product.
According to Economic times, on Monday, the bank’s 117th Foundation Day, Saha claims, it introduced the PSB Pink debit card with RuPay for women. This card comes with several advantages.
Additionally, the bank began offering demat services through its wealth-tech partner Fisdom, enabling its clients to buy mutual funds and make equity market purchases.
Along with a deal with IIM Amritsar to advance academic research and business contacts, the Delhi-based lender has signed a Memorandum of Understanding (MoU) with Maruti Suzuki India for car loans through their digital lending platform, “Maruti Suzuki Smart Finance.”
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Through its omnichannel PSB UNiC App, the bank also introduced many customer-focused digital products aimed at ensuring secure and convenient banking services.
Offerings include using video KYC to open savings accounts, bulk NEFT/RTGS, obtaining a free CIC credit score, and registering using the UNiC App using an Aadhaar OTP.
He claimed that these new product efforts demonstrate the bank’s commitment to improving society and building a more sustainable future for all.
