Punjab National Bank (PNB) has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan to support the state’s socio-economic development. The agreement aims to facilitate an investment of ₹21,000 crore under the state government’s ‘Rising Rajasthan’ initiative. PNB’s Managing Director and Chief Executive Officer, Ashok Chandra, expressed pride in participating in Rajasthan’s development journey, highlighting the bank’s extensive branch network, digital capabilities, and diverse products.
The MoU provides a framework for financing eligible projects in the state, aligning with PNB’s mission to accelerate socio-economic development nationwide. Rajasthan Chief Minister Bhajanlal Sharma praised the agreement, stating it is a decisive step towards realizing the goal of ‘Developed Rajasthan’. During his visit to Jaipur, Chandra handed over 2,000 loan sanction letters to women entrepreneurs at a self-help group (SHG) loan distribution ceremony, encouraging MSMEs to utilize PNB’s digital platforms.
Chandra also held a town hall with employees, emphasizing digital adoption, financial inclusion, and fraud prevention. He inspected major branches and ATMs, interacting with customers under the ‘Customer Outreach Programme’ and reiterating the bank’s commitment to digital banking initiatives and financial inclusion. With 18.5 crore customers, Chandra emphasized that excellence in service and customer satisfaction are core to PNB’s banking operations.
The agreement and Chandra’s visit demonstrate PNB’s commitment to supporting Rajasthan’s development and promoting financial inclusion. The bank’s efforts to provide financial assistance to women entrepreneurs and MSMEs, as well as its emphasis on digital adoption and customer satisfaction, are expected to contribute to the state’s socio-economic progress. Overall, the partnership between PNB and the Government of Rajasthan aims to drive growth and development in the state, with a focus on financial inclusion and digital banking.