PNB Enhances Presence In North-East Region

Public sector lender Punjab National Bank (PNB) on Thursday said it has enhanced its presence in north-east region following the consolidation of OBC and United Bank of India last year.

Effective April 1, 2020, Oriental Bank of Commerce and Kolkata-based United Bank of India were merged with PNB.

'Bank has enhanced its presence in North East regions in terms of branches, business and customer base. The wider geographical footprint has helped it serve customers more effectively and efficiently,' PNB said in a statement on the first anniversary of the merger.

The bank has been focusing on improving digital offerings to the customers and proposes to undertake new initiatives like end-to-end digital pre-approved personal loans for its salaried customer, e-Mudra loans up to Rs 50,000, video KYC for online account opening, etc to name a few, it said.

PNB has been assisting stressed MSMEs in line with its traditional role of supporting the Indian entrepreneurial spirit while maintaining a thrust on being the leader in supporting rural areas and the agriculture sector, it added.

As one of India's leading public sector banks, it said, PNB has a larger and more constructive role in ensuring inclusive and balanced growth among individual entrepreneurs and corporates in India. 

(PTI)