New Delhi: Punjab National Bank (PNB) and IRCON International Limited have signed a Memorandum of Understanding (MoU) to provide exclusive salary and pension account services to eligible employees and pensioners of the railway infrastructure company.
The agreement was signed on August 14, 2026, formalising a banking partnership between the two public sector organisations.
PNB and IRCON Sign MoU for Salary and Pension Accounts
Under the MoU, PNB will provide dedicated Salary Account and Pension Account facilities to eligible beneficiaries associated with IRCON.
The arrangement is aimed at providing a structured banking channel for employees and pensioners to manage their salary and pension-related banking requirements.
Key Details
- Partner organisations: PNB and IRCON International Limited
- Agreement: Memorandum of Understanding (MoU)
- Date: August 14, 2026
- Services: Salary Accounts and Pension Accounts
- Beneficiaries: Eligible IRCON employees and pensioners
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MoU Signed by PNB and IRCON Officials
The agreement was signed by representatives of both organisations.
- Mr. Mahadeb Mandal, General Manager (Finance), signed on behalf of IRCON.
- Mr. Rajendra Singh, General Manager (BA&RM), signed on behalf of PNB.
The signing marks a formal step towards strengthening the institutional relationship between the bank and the railway infrastructure company.
What the PNB-IRCON Partnership Offers
Through the partnership, eligible IRCON employees and pensioners will be able to access PNB’s salary and pension account facilities through the institutional arrangement.
For IRCON, the tie-up provides a dedicated banking channel for salary and pension-related requirements.
For PNB, the partnership provides an opportunity to strengthen its relationship with the employees and pensioners of a major public-sector infrastructure company.
Partnership to Strengthen Institutional Banking Relationship
The MoU reflects continued cooperation between PNB and IRCON and PNB’s focus on developing corporate and employee-focused banking relationships.
Salary and pension account arrangements can provide beneficiaries with a structured banking relationship and access to relevant financial services.
The partnership therefore combines employee banking services with broader institutional cooperation between the two public sector organisations.
About Punjab National Bank
Punjab National Bank (PNB) is one of India’s major public sector banks, offering banking and financial services to individuals, businesses, institutions and government entities. The bank provides a wide range of services including deposits, loans, digital banking, corporate banking and pension-related facilities.
About IRCON International Limited
IRCON International Limited is a leading public sector engineering and construction company under the Ministry of Railways, Government of India. The company undertakes major infrastructure projects across railways, highways, bridges, tunnels and other transportation sectors in India and overseas.
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