PSB Signed MoU With Indian Army For Salary Accounts

Current Context: State-owned Punjab & Sind Bank has signed an initial agreement with the Indian Army for a defence salary package on 26th June 2024,in New Delhi.

• This package includes several facilities, such as free insurance cover.
• The memorandum of understanding (MoU) has been signed to this effect.
• The PSB Gaurav Bachat SB Salary account is exclusively designed to cater to the distinct banking requirements of serving and retired personnel.
• Additionally, it strategically aims to tap Agniveers enrolled in the Agnipath scheme, ensuring a comprehensive financial solution aligned with the distinctive needs of this segment.
• The bank also acknowledges the sacrifice of Veer Naari (spouses of martyrs) by providing them benefits similar to pensioners.
• Furthermore, during its 117th Foundation Day, the bank introduced a PSB Pink debit card powered by RuPay for women, demat services through wealth-tech partner Fisdom, and signed agreements with Maruti Suzuki India for vehicle loans and IIM Amritsar for academic research and industry interactions.

Question:

1 What is the name of the salary account exclusively designed for serving and retired personnel of the Indian Army?

• A) PSB Gaurav Bachat SB Salary Account
• B) PSB Defence Plus Salary Account
• C) PSB Army Savings Account
• D) PSB Raksha Salary Package

Answer: A) The PSB Gaurav Bachat SB Salary account is exclusively designed to cater to the distinct banking requirements of serving and retired personnel.