PNB Supports Martyrs' Families with ₹17 Crore Aid Under Rakshak Plus Scheme
In a remarkable gesture of honor and support, Punjab National Bank (PNB) has demonstrated its unwavering commitment to the families of India's brave defense personnel. The state-owned banking giant has disbursed a substantial ₹17.02 crore to assist the families of 26 deceased defense and paramilitary personnel under its flagship Rakshak Plus Scheme as of June 11, 2025.
This initiative stands as a testament to PNB's dedication to supporting those who have made the ultimate sacrifice for the nation. The Rakshak Plus Scheme represents more than just financial assistance – it embodies the bank's recognition of the courage and sacrifice of India's defense forces and their families.
Impact at a Glance
Total assistance provided to 26 martyrs' families in Q1 FY 2025-26
Understanding the Rakshak Plus Scheme
The Rakshak Plus Scheme is PNB's specialized banking product designed exclusively for defense and paramilitary personnel. This comprehensive scheme goes beyond traditional banking services to provide holistic financial protection and support for India's security forces and their families.
Launched as part of PNB's commitment to serving the nation's defenders, the scheme recognizes the unique challenges and risks faced by defense personnel. It offers a range of benefits that cater specifically to the needs of armed forces personnel, including enhanced insurance coverage and family support mechanisms.
What Makes Rakshak Plus Special?
Unlike regular savings accounts, Rakshak Plus is tailored for defense personnel with specialized features including zero-balance accounts for family members, comprehensive insurance coverage, and expedited claim processing for martyrs' families.
Key Benefits and Coverage
The Rakshak Plus Scheme offers an extensive range of benefits designed to provide comprehensive financial security for defense personnel and their families. The scheme's multi-layered approach ensures that families are protected in various scenarios.
Primary Benefits Include:
- Personal Accidental Insurance: ₹1 crore coverage in case of death or permanent total disability
- Air Accidental Coverage: Enhanced ₹1.5 crore coverage for aviation-related incidents
- Partial Disability Coverage: Proportional benefits for partial disabilities
- Zero Balance Accounts: Free savings accounts for parents, spouse, and dependent children
- Banking Convenience: Free passbook updates at all branches nationwide
- Expedited Processing: Fast-track claim settlements for families in need
The scheme's insurance coverage is particularly comprehensive, recognizing that defense personnel face higher risks in their line of duty. The differentiated coverage for air accidents acknowledges the additional risks faced by personnel in aviation roles within the armed forces.
Family-Centric Approach
One of the standout features of the Rakshak Plus Scheme is its family-inclusive design. When evaluating financial protection options, many families also consider whether you can make one claim under two health insurance policies, highlighting the importance of understanding all available coverage options for comprehensive family protection.
Who Can Apply for the Scheme?
The Rakshak Plus Scheme is exclusively designed for India's defense and security personnel, reflecting PNB's commitment to serving those who serve the nation. The eligibility criteria are clearly defined to ensure the scheme reaches its intended beneficiaries.
Eligible Personnel Include:
- Indian Army Personnel: All ranks and categories
- Indian Navy Personnel: Naval officers and sailors
- Indian Air Force Personnel: Air force officers and airmen
- Border Security Force (BSF): All personnel
- Central Reserve Police Force (CRPF): All ranks
- Other Paramilitary Forces: Including ITBP, CISF, and other central forces
The scheme's broad eligibility ensures that personnel from all branches of India's defense and security apparatus can benefit from its comprehensive coverage. This inclusive approach recognizes that all these forces play crucial roles in national security.
Documentation Required
Applicants need to provide valid service identification, address proof, and family details for dependent coverage. The bank has streamlined the documentation process to make it convenient for serving personnel.
Recent Disbursements and Impact
The recent disbursement of ₹17.02 crore to 26 martyrs' families represents just the tip of the iceberg in terms of PNB's ongoing support to defense families. This substantial payout in the first quarter of FY 2025-26 demonstrates the scheme's active role in providing timely financial assistance.
Individual case studies reveal the scheme's impact. For instance, PNB recently honored Subedar Major Pawan Kumar's family with ₹1.10 crore support under the Rakshak Plus Scheme, showcasing how the bank ensures that martyrs' families receive comprehensive financial support during their most difficult times.
Geographic Reach
The scheme's impact spans across India, with families in states including Uttar Pradesh, Telangana, and others benefiting from the Rakshak Plus Scheme in 2025. This nationwide reach ensures that defense families, regardless of their location, can access the support they deserve.
Recent Impact Highlights:
- 26 families supported with ₹17.02 crore in Q1 FY 2025-26
- Individual payouts reaching ₹1.10 crore for comprehensive family support
- Multiple states covered, ensuring nationwide accessibility
- Expedited processing ensuring timely financial assistance
How to Apply for Rakshak Plus
PNB has designed a straightforward application process for the Rakshak Plus Scheme, recognizing that defense personnel often have limited time for complex procedures. The bank has established dedicated channels to serve this important customer segment.
Application Steps:
- Visit Any PNB Branch: Defense personnel can visit any PNB branch nationwide
- Provide Service Documentation: Submit valid service identification and related documents
- Complete Application Forms: Fill out the Rakshak Plus account opening forms
- Nominate Family Members: Designate family members for dependent benefits
- Insurance Enrollment: Complete the insurance coverage enrollment process
- Account Activation: Receive account details and insurance policy documents
The bank has also established a dedicated Rakshak Portal to provide online support and information access for scheme beneficiaries. This digital initiative makes it easier for personnel to manage their accounts and access information about their coverage.
Comparing with Other Banking Options
While several banks offer defense-focused banking products, PNB's Rakshak Plus Scheme stands out for its comprehensive approach and substantial coverage amounts. The scheme's combination of banking services and insurance coverage provides a one-stop solution for defense families.
Advantages of Rakshak Plus:
- Higher Coverage: ₹1 crore personal accident and ₹1.5 crore air accident coverage
- Family Inclusion: Zero-balance accounts for all family members
- Nationwide Access: Services available at all PNB branches across India
- Expedited Claims: Fast-track processing for urgent family needs
- No Minimum Balance: Zero-balance facility reduces financial burden
The scheme's comprehensive nature eliminates the need for defense personnel to maintain multiple banking relationships for different services. This consolidation simplifies financial management for families who may be posted in different locations frequently.
Future Outlook and Expansion
PNB's continued investment in the Rakshak Plus Scheme indicates the bank's long-term commitment to supporting India's defense community. The substantial disbursements in recent months suggest that the scheme is not only meeting its objectives but also expanding its reach and impact.
The bank's approach of honoring national heroes through comprehensive financial support sets a benchmark for corporate social responsibility in the banking sector. As India continues to strengthen its defense capabilities, schemes like Rakshak Plus play a crucial role in ensuring that defense personnel and their families have the financial security they deserve.
Looking Ahead
With the positive response and impact of the Rakshak Plus Scheme, PNB is likely to continue enhancing its offerings for defense personnel. The bank's commitment to this segment reflects its understanding of the unique challenges faced by defense families.
The scheme's success also demonstrates the importance of specialized financial products for different professional segments. As the banking industry evolves, customer-centric approaches like the Rakshak Plus Scheme show how traditional banks can innovate to serve specific community needs effectively.