The State Bank of Punjab National Bank (PNB) sanctions Rs 100 crore in loan.

The Punjab National Bank (PNB) organized an MSME Outreach program in Hyderabad, which received an overwhelming response from over 25 beneficiaries of central schemes such as PM-Savnidhi Mudra, PM-Vishwakarma, and PMEGP, resulting in the approval of principal sanction letters worth Rs. 100 crore. Additionally, the bank received over 1,000 crore worth of leads from MSMEs. The event aimed to promote the growth of micro, small, and medium enterprises (MSMEs), which play a crucial role in India’s economic growth, job creation, innovation, and overall development. The MSME sector is known for its potential for employment at a low capital cost. PNB’s Zonal Manager, Deepak Kumar Srivastava, emphasized the bank’s role in supporting MSMEs, with specialized branches and policies to provide financing support. The bank’s policies include built-in concessions and incentives, as well as a well-defined lending policy. Goyal, CGM (Head Office), highlighted the bank’s offerings, including collateral-free loans through the CGTMSE, eliminating the need for a third-party guarantee. The event was also inaugurated by Dr. S. Glory Swarupa, Director General, National Institute for Micro Small and Medium Enterprises (NI-MSME), Hyderabad.