In a significant move to bolster the welfare measures for its serving personnel, the Indian Army has signed an addendum to its existing Memorandum of Understanding (MoU) with Punjab National Bank (PNB). This enhancement will introduce several new benefits and increase existing ones, affirming their commitment to the well-being of the military staff and their families.
Under the revised MoU, personnel of the Indian Army will now be entitled to Personal Accident Insurance and coverage for Total or Partial Disability up to ₹1 Crore. This substantial increase aims to provide better financial security in the event of any mishaps during their service period.
Additionally, the addendum includes improved educational benefits for the children of the personnel. The Child Education cover has been significantly raised to ₹20 Lakh, ensuring better access to quality education. In a move to support the families further, the Girl Child Marriage cover has also been increased to ₹10 Lakh.
Moreover, the Air Accidental cover has been enhanced to ₹1.5 Crore. This considerable increment addresses the higher risks associated with air travel and operations, providing a more comprehensive safety net for the Army personnel.
These revised benefits under the MoU reflect the ongoing efforts of the Indian Army and Punjab National Bank to provide substantial support and reassurance to the armed forces’ community, acknowledging their invaluable service to the nation.
