PNB signs MoU with Indian Army to offer exclusive credit cards to serving personnel

Punjab National Bank (PNB) on Friday, August 21, announced an exclusive memorandum of understanding (MoU) with the Indian Army to provide two credit cards with specially curated benefits for serving Army personnel.

Under the partnership, PNB will offer the PNB LUXURA Metal Credit Card to Army officers, while JCOs and other ranks personnel will be eligible for the PNB Parakram Credit Card.

According to PNB, the cards will offer several lifestyle and financial benefits, including 3 per cent cashback on purchases at Canteen Stores Department (CSD) outlets, complimentary access to domestic and international airport lounges, zero forex markup and Buy One Get One movie ticket offers. Cardholders will also receive complimentary golf lessons along with other reward and lifestyle benefits.

The PNB Parakram Credit Card will feature a biodegradable card design, providing an environmentally conscious alternative, the bank said.

The MoU was signed at the Indian Army Headquarters in Delhi by Maj Gen VK Purohit and PNB General Manager, Credit Card Division, Deepak Kumar. The signing ceremony was attended by senior Army and PNB officials, including Lt Gen Viresh Pratap Singh Kaushik, Lt Gen Rajeev Puri, PNB MD and CEO Ashok Chandra, and PNB Chief General Manager Sudhir Dalal.

Speaking at the event, Chandra said PNB has a long-standing relationship with the Indian Armed Forces based on mutual trust, respect and a shared commitment to the nation. He said the new partnership further strengthens that association by offering financial products tailored to the requirements of Army personnel.

PNB said the partnership also underlines its commitment to supporting the Armed Forces community through products that combine convenience, value and lifestyle privileges.