A recent press report said that Punjab National Bank (PNB) has bagged two awards in recognition of its services to the micro, small and medium enterprises (MSME) sector. One award was for excellence in lending under the Prime Minister’s Employment Generation Programme (PMEGP) in the North Zone and the other award, is for excellence in lending under the interest subsidy eligibility certificate (ISEC) scheme of Khadi Village Industries Commission (KVIC).
Ms. Usha Ananthasubramanian, Executive Director, PNB, received the awards from Mr. Virbhadra Singh, Minister of Micro, Small and Medium Enterprises.
Punjab National Bank (PNB) was founded in 1894 and today is the second largest state-owned commercial bank in India with about 5000 branches across 764 cities. It serves over 37 million customers.
The bank has been ranked 248th biggest bank in the world by the Bankers Almanac, London. PNB has a banking subsidiary in the UK, as well as branches in Hong Kong, Dubai and Kabul, and representative offices in Almaty, Dubai, Oslo, and Shanghai.The bank is likely to increase its interest rates which will make its loans such as home loan, car loan, personal loan and other loans costlier.