TODAY’S MANTRA

Procedure for Opening of Rakshak Plus accounts/ Conversion of existing

accounts into Rakshak Plus scheme code

PNB has renewed MoUs with Indian Army and Indian Coast Guard for opening
salary/ pension accounts of their Personnel under the Rakshak Plus Scheme A
number of facilities, including financial benefits have been extended under this
scheme. Detailed guidelines are available in RBD (Resources) Circular 02/2019
dated 11.1.2019.

Branches and Circles are to ensure that existing salary/ pension accounts of
defence personnel are converted to Rakshak Plus accounts on receipt of request
from them. Such account holders should also be contacted proactively to guide them
in this regard. Non-conversion, despite receipt of requests, may lead to
complaints as well as financial implications. Further, fresh salary/ pension
accounts of Indian Army and Indian Coast Guard personnel should also be
opened in Rakshak Plus category.
Procedure

CIF Creation: While creating the Customer Identification (CIF), ensure:

1. General Details  Basic information  Customer type (Indian Army)

2.General Details  Core Interface  EBL Flag (Y/N). This is to be marked as Y for
Gorkha soldiers whose Everest Bank accounts are also being opened and N for all
other Rakshak Plus accounts. This is a mandatory field in case of Rakshak Plus
accounts. If the EBL flag is unmarked, the user will not be able to open a Rakshak
Plus account (scheme code: SBDPS/SBDPO). Further, if EBL Flag is marked as Y,
only SBDPS/SBDPO accounts can be opened. A pop up will appear if the user
attempts to open the Account in any other SF Scheme code.

3.Demographic details Employment details  Occupation (PBOR/OFFCR/

BRIGA)
The above procedure is also required to be implemented in case of transfer of
accounts from any scheme code to SBDPS/SBPO.
The user can open a savings account in the Rakshak Plus scheme code
(SBDPS/SBDPO) only after entering the particulars as detailed above.