 Early Times Report
Jammu, Jan 30: Punjab National Bank (PNB) in collaboration of Industries Association of Gangyal today organized a MSME meet in which 100 entrepreneurs participated were in leads of Rs. 60 crores were generated.
According to press release, the MSME meet was inaugurated by G S Gandhoke, Field General Manager, Punjab National Bank who was accompanied by Virinder Sharma, Director MSME, M L Mir, Deputy General Manager, Punjab National Bank J&K Circle, Rajesh Jain, President and S B Abrol, General Secretary, Association of Industries, Gangyal respectively.
Speaking on the occasion, G S Gandhoke said that Punjab National Bank has always been in the forefront in extending credit assistance to Micro Small and Medium Enterprises entrepreneurs, which are very crucial to the economic development of the country.
During the financial year, PNB achieved a growth rate of 21.63 percent in financing to MSE for the FY ended March'2014 as against the stipulation of 20 percent of Govt. of India.
He further informed that PNB has started a Credit growth initiative in the last Financial Year by identifying its 250 branches on Pan India basis which are focused towards lending to MSMEs. To acknowledge the role of PNB in lending to MSME, the Chamber of Indian MSME (CIMSME) conferred upon Punjab National Bank the Banking Excellence award - 2014 for lending to MSMEs.
To meet credit needs of Micro Enterprises, particularly to those who are not able to meet collateral security / guarantee requirements of Financial Institutions, PNB is extending collateral security free and guarantee free loans upto Rs 100 lakh to all Micro & Small Enterprises borrowers and these accounts are covered under credit guarantee scheme of Credit Guarantee Fund Trust for Micro & Small Enterprises.
Assistant General Manager, PNB, J&K circle, B M Fazili, Chief Manager S K Sawhney, S P Sharma were also present on the occasion. |
