In a powerful demonstration of its commitment to national service and social responsibility, Punjab National Bank (PNB), one of India’s leading public sector banks, disbursed ₹17.02 crore under its Rakshak Plus Scheme as of June 11, 2025, supporting the families of 26 deceased defence and paramilitary personnel.
The announcement was made on June 18, reflecting the bank’s unwavering dedication to honoring the sacrifices of India’s uniformed forces.
Rakshak Plus Scheme: A Lifeline for Martyrs’ Families
Launched with the aim of providing comprehensive financial protection to India’s armed forces, PNB’s Rakshak Plus Scheme offers:
- ₹1 crore in personal accident insurance in case of death or permanent total disability.
- ₹1.5 crore in case of air accident death.
- Coverage for partial disability and additional tailored benefits for personnel and their families.
The bank emphasized that the support is not just financial assistance but a tribute to the bravery of those who laid down their lives in the line of duty. Among the recipients were families from notable operations such as Birli Gali, where soldiers made the supreme sacrifice while protecting the nation.
Human Touch Behind the Initiative
Speaking on the initiative, Binay Gupta, PNB’s Chief General Manager (Business Area Regional Manager), said:
“It is our solemn duty to stand by the families of our martyrs. Through the Rakshak Plus Scheme, PNB offers more than financial assistance – it serves as a symbol of our respect and enduring support for their immense sacrifices.”
The bank reaffirmed that it will continue providing timely and meaningful support to bereaved families, in line with its vision of serving the nation beyond financial metrics.
PNB’s Strategic Moves: Stake Sale in ISARC
Alongside its social commitments, PNB has also been active in strengthening its balance sheet and strategic focus. Last week, the bank announced it had completed the sale of its entire 21% stake in India SME Asset Reconstruction Company Limited (ISARC) for a total consideration of ₹34.04 crore.
This transaction involved the sale of 2.09 crore shares at a rate of ₹16.29 per share. The decision follows the Reserve Bank of India’s March approval for a change in sponsorship of ISARC and a capital raise by Authum Investment and Infrastructure Ltd.
ISARC reported a net profit of ₹19.79 crore and a total income of ₹36.4 crore for FY25 before the sale was executed.
Robust Recovery Targets for FY26
In line with its goal to improve asset quality and profitability, PNB has set an ambitious recovery target of ₹16,000 crore for the ongoing fiscal year. The bank aims to keep slippages below 1%, as it seeks to sustain its growth momentum.
In FY25, the lender achieved a total recovery of ₹14,336 crore, with ₹4,733 crore recovered in Q4 alone. Its slippage ratio stood at a healthy 0.73%, reflecting prudent risk management.
Strong Financial Performance in Q4 FY25
For the quarter ended March 31, 2025, PNB posted a 52% increase in net profit, reaching ₹4,567 crore, up from ₹3,010 crore in the same period last year.
Key highlights from the quarter include:
- Total income rose to ₹36,705 crore, up from ₹32,361 crore YoY.
- Interest income surged to ₹31,989 crore, compared to ₹28,113 crore in Q4 FY24.
- The bank reported steady growth in both retail and corporate lending segments.
Despite the financial uptick, PNB shares have underperformed in recent months. The stock rose 2% over the past 30 days, 0.7% over six months, but recorded a 12-month decline of over 18%.
Conclusion
Punjab National Bank’s Rakshak Plus Scheme is a powerful symbol of corporate responsibility and national gratitude. As PNB continues to support the families of India’s brave soldiers, its actions serve as a reminder that banking institutions can be pillars of both financial and moral strength in society.
Coupled with strategic financial moves like the ISARC stake sale and strong quarterly performance, PNB is positioning itself as both a financially sound and ethically driven public sector leader.
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