Punjab National Bank, after SBI, is planning to reschedule loans in the affected areas in addition to other measures.
This year nearly two-fifths of the districts have been affected by drought.
Gobinda Banerjee, GM, priority sector and lead bank division, PNB informed that about 15-20% of crop loans will need to be re-scheduled. He said the bank will have to convert these loans from short to medium term loans.
He told bank’s total agricultural credit portfolio amounts to Rs 200 billion, out of which crop loans accounted to Rs 120 billion.
He added bank will be rescheduling all loans as per Reserve Bank of India guidelines and instructions related to this have been issued to branches of the affected areas. He told the parts of Andhra Pradesh and Uttar Pradesh have been affected the most.
Thursday, September 17, 2009
Wednesday, September 2, 2009
PNB launched campaign opened school student accounts
A nation-wide campaign has been launched by Punjab National Bank from August 1 to September 30 for opening of current and saving accounts with an aim to bring all the sections of the society under the banking system. Under this program C.L. Mahajan, assistant general manager, Punjab National Bank, Ludhiana circle, started the process of opening of accounts at Govt Multi-Purpose Senior Secondary School, Raikhy Cinema Road.
During the program Mahajan explained the benefits of opening of accounts with Punjab National Bank to the students. He told the account of every student will be opened with zero balance. All the students will be given free ATM debit card and Internet Banking facility. Mahajan informed bank has attained 100% financial inclusion in 21174 villages. And by end of June 2009, bank had opened around 53.57 lakh “no frill” accounts. Besides this bank has also launched unique initiatives mainly focusing on the marginalized sections of the economy like projects for rickshaw pullers, vegetable vendors, dairy farmers linked to Mother Dairy and migrant construction workers etc.
At the occasion in his address HK Mayer, principal of Govt Multi-Purpose Senior Secondary School told the school was established in the year 1885 and is the oldest school in the city and also appreciated the efforts of PNB for opening accounts of students and teachers of the school.
S.K. Rajput, Senior Manager, Kesar Ganj in his address to the students said he was also the student of this school and he is feeling proud for opening the accounts of the students of his alma mater. During the campaign bank opened 100 saving accounts of the students and teachers. He stated within three days 500 more accounts of students and teachers of the school will be opened.
During the program Mahajan explained the benefits of opening of accounts with Punjab National Bank to the students. He told the account of every student will be opened with zero balance. All the students will be given free ATM debit card and Internet Banking facility. Mahajan informed bank has attained 100% financial inclusion in 21174 villages. And by end of June 2009, bank had opened around 53.57 lakh “no frill” accounts. Besides this bank has also launched unique initiatives mainly focusing on the marginalized sections of the economy like projects for rickshaw pullers, vegetable vendors, dairy farmers linked to Mother Dairy and migrant construction workers etc.
At the occasion in his address HK Mayer, principal of Govt Multi-Purpose Senior Secondary School told the school was established in the year 1885 and is the oldest school in the city and also appreciated the efforts of PNB for opening accounts of students and teachers of the school.
S.K. Rajput, Senior Manager, Kesar Ganj in his address to the students said he was also the student of this school and he is feeling proud for opening the accounts of the students of his alma mater. During the campaign bank opened 100 saving accounts of the students and teachers. He stated within three days 500 more accounts of students and teachers of the school will be opened.
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