Why in News?
Punjab National Bank (PNB) has signed an exclusive Memorandum of Understanding (MoU) with the Indian Army to offer two specialised credit cards for serving Army personnel.
Key Highlights
- PNB LUXURA Metal Credit Card will be offered to Army Officers.
- PNB Parakram Credit Card will be available to Junior Commissioned Officers (JCOs) and Other Ranks (OR).
- Both cards will offer 3% cashback on purchases through the Canteen Stores Department (CSD).
- Cardholders will get benefits such as domestic and international airport lounge access and zero forex markup.
- Additional benefits include movie tickets, golf privileges and other lifestyle rewards.
- The PNB Parakram Card will have a biodegradable design, adding an environment-friendly feature.
- The partnership strengthens PNB’s long-standing association with the Indian Armed Forces.