Shillong, May 20: Assam Rifles has signed a Memorandum of Understanding (MoU) with Punjab National Bank to introduce a customised “Rakshak Plus Salary Package” aimed at enhancing financial security and welfare support for serving and retired personnel.

The MoU was formally signed at Headquarters Director General Assam Rifles (DGAR) in Laitkor, Shillong, in the presence of Lt Gen Vikas Lakhera, AVSM, SM, Director General Assam Rifles, along with senior officials from both organisations, including Maj Gen D.S. Bisht (Retd), Chief Defence Banking Advisor, and Shri Sanjeev Bhardwaj, General Manager, Punjab National Bank.
The agreement was signed by Brig Sandip Chatterjee, SM, Brigadier (Personnel), on behalf of Assam Rifles, and Mr Bijender Singh, Zonal Manager, Guwahati Zone, Punjab National Bank.
Under the newly introduced package, personnel will receive a specially curated financial framework that includes salary benefits along with a dedicated health insurance scheme exclusively designed for Assam Rifles members. The package also offers personal accident insurance, permanent total disability cover, and additional tailored financial protections.
Officials stated that the initiative reflects a focused effort to strengthen post-retirement and in-service welfare systems, ensuring comprehensive financial and healthcare security for personnel and their families.
The collaboration is expected to provide long-term institutional support to Assam Rifles personnel while reinforcing the commitment of both organisations towards welfare-oriented financial inclusion for the armed forces community.