Punjab National Bank Disburses ₹17.02 Crore to Families of 26 Martyred Soldiers under Rakshak Plus Scheme

Punjab National Bank (PNB) has recently distributed ₹17.02 crore to the families of 26 martyrs who laid down their lives in the service of the nation. This significant financial assistance was provided by June 11, 2025, under PNB’s Rakshak Plus Scheme, reaffirming the bank’s commitment to honoring the supreme sacrifices made by India’s defense and paramilitary personnel.

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Key Highlights of the Rakshak Plus Disbursement

• A total of ₹17.02 crore was directly transferred to the bank accounts of 26 families of soldiers and paramilitary personnel who died while safeguarding the country’s borders.

• This immediate financial support eased the economic burden on bereaved families and reinforced PNB’s dedication to their welfare.

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What Is the Rakshak Plus Scheme?

PNB’s Rakshak Plus Scheme is a specialized insurance and savings plan designed for defense personnel, paramilitary forces, Central Armed Police Forces (CAPF) such as CRPF, BSF, CISF, ITBP, state police, AGNIVEERS, and other units including those from Meghalaya.

Scheme Benefits Include:

• Personal Accidental Insurance: ₹1 crore coverage in case of death due to accidents

• Air Accident Cover: ₹1.5 crore compensation in case of death in an air accident

• Coverage also extends to permanent disability, partial disability, medical and transport expenses, and education support for family members.

• Additional benefits include assistance with funeral costs, repatriation, and financial help for daughters’ marriage and education.

For more details, visit PNB’s official site.

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Statement from PNB Officials

Binay Gupta, CGM (BARM) at PNB, said:

“It is our solemn duty to stand by the families of our martyrs. This scheme is a symbol of our respect and enduring support for their immense sacrifices.”

Such statements reflect PNB’s deep emotional and social commitment beyond just financial services.

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Why the Rakshak Plus Scheme Matters

• Immediate Financial Relief: Families receive assistance quickly, bypassing lengthy formalities.

• Comprehensive Support: It covers education, medical aid, funeral expenses, and social security for families of the fallen heroes.

• Symbol of National Respect: PNB exemplifies patriotism by actively supporting the families who have given everything for the country.

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Case Study: Support for a Martyr’s Family

Lance Naik Jitendra Kumar Yadav lost his life during an operation. Under the Rakshak Plus Scheme, his family received:

• ₹1 crore personal accident insurance payout

• Additional support for education and funeral expenses

His family shared:

“PNB’s assistance helped us cope both mentally and financially during this difficult time.”

Stories like these strengthen community trust and highlight the scheme’s positive impact.

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How to Apply for the Rakshak Plus Scheme?

• Interested personnel or family members can visit the nearest PNB branch with necessary documents to enroll or claim benefits.

• For comprehensive guidelines and updates, check the PNB official portal.

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Comparison with Other Banks’ Defense Schemes

PNB’s coverage stands out as the most comprehensive, making it a preferred choice among serving and retired personnel.

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Trusted Sources & Further Reading

• Business Standard: PNB scheme helps 26 martyred soldiers’ families with Rs 17 cr assistance

• The Week (PTI): PNB disburses Rs 17 cr under Rakshak Plus Saving Account Scheme

• PNB Official Press Release: Tribute to National Heroes through Rakshak Plus Scheme

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Conclusion

The Rakshak Plus Scheme by Punjab National Bank is much more than a financial product—it is a profound tribute to the courage and sacrifice of India’s soldiers and paramilitary forces. The disbursement of ₹17.02 crore to 26 bereaved families symbolizes respect, security, and a promise that the nation, through institutions like PNB, will always stand by its heroes and their loved ones.