PNB RECEIVED “EXCELLENT PERFORMANCE IN LENDING UNDER PRIME MINISTERS EMPLOYMENT GENERATION PROGRAMME (PMEGP) SCHEME” AWARD

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The Ministry of Micro, Small & Medium Enterprises, Govt. of India presented National Awards to outstanding Entrepreneurs as well as to Public Sector Banks in recognition of their services for excellence in lending to Micro & Small Enterprises Sector as well as under PMEGP and Khadi Village Industries Commission Schemes.

The awards were presented by Here Excellency Hon’ble President and Shri Dinsha Patel Hon’ble Minister of State of Micro, Small & Medium Enterprises (Independent Charge) at Vigyan Bhawan, New Delhi.

The Govt. of India under the Banks category awarded Punjab National Bank recognizing excellent performance in lending under PMEGP scheme.

On behalf of PNB, Shri Nagesh Pydhah, Executive Director and Shri Jagat Ram, General Manager received the award.

PNB is always front runner for implementation of various GOI schemes and programmes for Employment Generation, financial inclusion and Poverty alleviation.

As on date, PNB’s SME portfolio of Rs 37,000 crore constitutes 19% of total Bank Credit.  During 2009-10, the bank has achieved growth of 47.82%.  The Bank envisages annual growth for SME Sector at 28.44% for the year 2010-11.

To meet credit needs of Micro Enterprises borrowers, particularly to those who are not able to meet collateral security / guarantee requirements of Financial Institutions, PNB in participation with Credit Guarantee Fund Trust for Micro & Small Enterprises, is extending collateral free & guarantee free loans to all Micro & Small Enterprises borrowers upto Rs 1 crore.

Sh. Nagesh Pydah, Executive Director, PNB receiving 'excellent performance in lending under PMEGP scheme' award from Sh. Dinsha Patel, MoS (Independent Charge) and Sh. Dinesh Rai, Secretary, Ministry of Micro, Small & Medium Enterprises.
Sh. Nagesh Pydah, Executive Director, PNB receiving 'excellent performance in lending under PMEGP scheme' award from Sh. Dinsha Patel, MoS (Independent Charge) and Sh. Dinesh Rai, Secretary, Ministry of Micro, Small & Medium Enterprises.

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