Mumbai: Punjab National Bank (PNB) and Bharat Heavy Electricals Limited (BHEL) have signed a Memorandum of Understanding (MoU) to provide enhanced salary package benefits and banking services to BHEL employees. The agreement was signed on October 17, 2026, with the aim of offering customised banking solutions, retail loan benefits and other value-added services to employees under PNB’s Customised Salary Package.
The collaboration is expected to provide BHEL employees with convenient access to a range of banking facilities tailored to their financial needs.
PNB-BHEL MoU: Key Details
The key details of the agreement between Punjab National Bank and Bharat Heavy Electricals Limited are as follows:
- Date of Signing: October 17, 2026
- Organisations Involved: Punjab National Bank (PNB) and Bharat Heavy Electricals Limited (BHEL)
- Purpose: To extend salary package benefits and enhanced banking services to BHEL employees
- Banking Package: PNB’s Customised Salary Package
- Key Benefits: Banking facilities, retail loan benefits and other value-added services
Read also: PNB Signs MoU with Assam Government to Offer Housing and Vehicle Loans to State Employees
Who Signed the PNB-BHEL Agreement?
The Memorandum of Understanding was signed by representatives of both organisations.
- Rajendra Singh, General Manager (BA&RM), signed the agreement on behalf of Punjab National Bank.
- M Sridhar, Executive Director (HR), signed the agreement on behalf of Bharat Heavy Electricals Limited.
The agreement establishes a collaboration between the two organisations to make banking services and financial benefits more accessible to BHEL employees.
Benefits for BHEL Employees Under PNB’s Customised Salary Package
Through this partnership, BHEL employees will be offered a range of banking facilities and value-added services under PNB’s Customised Salary Package.
The key areas covered by the collaboration include:
- Enhanced Banking Facilities: Access to banking services designed to meet employees’ financial requirements.
- Retail Loan Benefits: Access to retail lending benefits under the salary package.
- Value-Added Services: Additional banking services aimed at providing greater convenience.
- Customised Banking Solutions: Financial facilities tailored to the needs of BHEL employees.
The collaboration aims to provide employees with more convenient and comprehensive banking solutions through PNB’s salary package offering.
About Punjab National Bank (PNB)
Established in 1894, Punjab National Bank (PNB) is one of India’s major public sector banks. Headquartered in New Delhi, the bank provides a wide range of financial services, including retail and corporate banking, loans, digital banking and other financial products.
About Bharat Heavy Electricals Limited (BHEL)
Bharat Heavy Electricals Limited (BHEL) is a public sector engineering and manufacturing company under the Government of India. It operates in the power and industrial sectors, providing equipment, systems and engineering solutions for power generation, transmission and various industrial applications.
Read also: BHEL Q2 FY27 Results: Net Profit Soars 120% to ₹810 Crore, Revenue Grows 24% to ₹9,300 Crore
