Param Vir Chakra Shikha Goyal. Param Vir Chakra or PVC is India's highest military decoration which is awarded for most conspicuous bravery or some daring or pre-eminent act of valour or self-sacrifice, in the presence of an enemy, whether on land, at sea or in the air. It was introduced on 26 January, 1950 on the first Republic Day.