Punjab National Bank gains on inking MoU with Indian Army for Defence Salary Package

Punjab National Bank | Bank - Public | BFSI | BSE: 532461 | NSE: PNB

10 Jun 2015 Evaluate

Punjab National Bank is currently trading at Rs. 138.30, up by 2.05 points or 1.50% from its previous closing of Rs 136.25 on the BSE.

The scrip opened at Rs. 136.45 and has touched a high and low of Rs. 139.40 and Rs. 136.45 respectively. So far 151420 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 231.50 on 19-Dec-2014 and a 52 week low of Rs. 135.05 on 09-Jun-2015.

Last one week high and low of the scrip stood at Rs. 151.40 and Rs. 135.05 respectively. The current market cap of the company is Rs. 25629.98 crore.

The promoters holding in the company stood at 59.86% while Institutions and Non-Institutions held 34.66% and 5.48% respectively.

Punjab National Bank (PNB) has inked a Memorandum of Understanding (MoU) with the Indian Army for Defence Salary Package. The first MoU between PNB and the Indian Army was signed in 2011 and was valid for a period of three years. The MoU is tailor made to suit the requirements of serving soldiers, pensioners and families.

Besides, number of additional facilities have been incorporated in the revised MoU after due consultation between Bank & Army authorities. Some features which have been improved from the previous MoU are that the Personal Accidental Insurance (PAI) cover has been extended to Rs 2 lakh and Rs 5 lakh from Rs 50,000 and Rs 2 lakh respectively.

Further, two major additions are the applicability of PAI and overdraft facility to pensioners and PAI cover for deaths occurring in the course of any active Army Operations. The MoU also has a provision for yearly review of specific features and requests.

PNB Share Price

109.45 1.55 (1.44%)

06-May-2026 10:40 View Price Chart

Peers

Company Name	CMP
SBI	1068.95
PNB	109.45
Canara Bank	136.50
Bank Of Baroda	267.65
Union Bank Of India	166.25
View more..

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