PNB Rakshak Plus Scheme: According to the lender, PNB’s Rakshak Plus Scheme offers financial protection in the form of ₹1.5 crore in air accident coverage in the event of death, ₹1 crore in personal accident insurance in the event of death, and permanent complete disability.
Rs.17 Cr Assistance by PNB Under Rakshak Plus Scheme – Details Here
PNB Rakshak Plus Scheme: Last week (June 18), the state-run lender Punjab National Bank (PNB) announced that, as of June 11 of this year, it has provided ₹17.02 crore in assistance to the families of 26 fallen military and paramilitary personnel via its flagship Rakshak Plus Scheme. According to a statement from PNB, this confirms the bank’s steadfast support for the valiant warriors defending India.
The families of people who gave their lives while serving the country, such as Birli Gali, were among the 26 beneficiaries.
According to the lender, PNB’s Rakshak Plus Scheme offers financial protection in the form of ₹1.5 crore in air accident coverage in the event of death, ₹1 crore in personal accident insurance in the event of death, and permanent complete disability.
According to the statement, the program offers full benefits catered to the requirements of people in uniform as well as partial disability coverage.
“It is our grave responsibility to support the families of our martyrs,” stated Binay Gupta, PNB CGM (BARM). PNB provides more than just monetary aid through the Rakshak Plus Scheme; it is a testament to our admiration and unwavering support for their tremendous efforts.
According to the lender, PNB is still making sure the grieving family receives prompt financial help as part of the bank’s dedication to honoring national heroes.
PNB: Current information
Punjab National Bank said this week that it has sold all 21 percent of its shares in India SME Asset Reconstruction Company Limited (ISARC) for ₹34 crore. PNB stated in a regulatory statement that the Reserve Bank of India (RBI) had approved the asset reconstruction company’s change of sponsor and equity increase from Authum Investment and Infrastructure Ltd. in March.
According to the bank, it sold a 20.90% share on Tuesday. For a total of ₹34.04 crore, it sold 2.09 crore shares of the asset reconstruction firm for ₹16.29 each. In May, the bank made a firm commitment to sell all of its shares in ISARC. With a total revenue of ₹36.4 crore for the fiscal year that concluded on March 31, 2025, ISARC made a net profit of ₹19.79 crore. SIDBI, Bank of Baroda, Punjab National Bank, and SIDBI Venture Capital Ltd. were the sponsors of ISARC prior to the share sale.
According to the chief officer of the nation’s second-largest state-owned lender, the lender stated in May 2025 that it was aiming for a substantial recovery of ₹16,000 crore and that it wanted to maintain profitability by keeping slippages below 1% in the current fiscal year.
The bank’s total recovery for the fourth quarter and FY25 was ₹4,733 crore and ₹14,336 crore, respectively. During the previous fiscal year, the overall slippage ratio was 0.73%.
Results for PNB Q4 FY25
For the March quarter of FY25 (Q4 FY25), the PSU lender recorded a 52% increase in net profit of ₹4,567 crore. In the previous year, the lender made ₹3,010 crore in net profit.
According to a regulatory statement by PNB, the bank’s overall income grew to ₹36,705 crore during the quarter from ₹32,361 crore the previous year. In the fourth quarter of the previous fiscal year, interest income increased from ₹28,113 crore to ₹31,989 crore. The bank’s stock has increased by 0.7% over the last six months and by over 2% over the last 30 days. The share price has dropped more than 18% in the last 12 months. (With assistance from PTI.)
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