• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Dr K.C. Chakrabarty

Our Bureau

New Delhi, Oct. 4 Punjab National Bank has launched a pilot project on financial inclusion at Neemrana in Alwar district of Rajasthan.

On the occasion, PNB’s Chairman and Managing Director, Dr K.C. Chakrabarty, gave away smart cards to 16 villagers. Loans amounting to Rs 1.28 crore were given to 258 Self Help Groups.

At Neemrana, PNB would use the business correspondents and farmers’ training centres for providing basic financial services at the doorstep of the masses, with the help of smart card and biometric technology.

The PNB Chairman told reporters here on Thursday that the bank would, in the coming days, launch similar pilot projects on financial inclusion in seven other States of the Indo-Gangetic belt.

States where financial inclusion pilots would be launched include Uttar Pradesh, Madhya Pradesh, Chattisgarh, Punjab, Haryana and Himachal Pradesh, Dr Chakrabarty said.

He also said that PNB wanted to enhance its customer base from the present 35 million to 100 million over the next 3-4 years and financial inclusion initiatives would help achieve this target.

“Inclusive growth cannot happen without financial inclusion”, he pointed out.

Meanwhile, PNB is set to write to the Government to review the target growth rates that are proposed to be fixed for advances and deposits during the current fiscal.

After PNB had filed its statement of intent for 2007-08 with the Finance Ministry, the Government now wants to substantially hike the target growth rates for deposits and advances.

PNB is, however, of the view that the target rates suggested by the Finance Ministry is on the higher side and need to be scaled down.

More Stories on : Public Sector Banks | Punjab National Bank

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
PNB to expand base via financial inclusion

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line