Money & Banking

PNB draws up Kerala expansion plans

Our Bureau Kochi | Updated on May 11, 2011 Published on May 11, 2011

Punjab National Bank has chalked out expansion plans in Kerala. It plans to open 100 ATM's and 10 branches in the current financial year.

With this, the number of ATMs and branches in Kerala will reach 200 and 150 respectively. The bank will also focus on canvassing for more current and savings fund accounts in the State by conducting special drives through its marketing division. It will also extend cash management service and door-step banking to customers.

The bank will collect and pay cash or cheque of the customers from their doorstep on a daily basis thus enabling them better cash management without losing interest, Mr K.V. Rajesh, Circle Head, said.

A memorandum of understanding has been signed with the Indian Army for opening salary accounts of army personnel under PNB Rakshak scheme. Special customised packages will be arranged for doctors, tour and travel operators, and LIC agents for meeting their requirements.

For facilitating instant remittances for non-resident Indians, the bank has entered into Rupee Drawing Arrangements with 29 exchange houses in the Gulf and one in Singapore, he said.

Insurance and loan

Tie ups with leading life insurance companies offering life insurance cover is on the anvil to provide value addition to housing and educational loan schemes. Branches will be equipped with Retail Loan Appraisal-cum-Approval Software for speedy processing of loan applications and faster service to retail customers, he said.

The bank has developed a Web-based software called Fixed Assets Management System to centralise upkeep and maintenance of bank records of capital expenditure on fixed assets. As part of CSR initiatives, PNB has launched PNB VIKAS for integrating development of adopted villages on a sustained basis. The bank has adopted 117 villages across the country, he added.

Published on May 11, 2011
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