PNB to initiate a new branch at Hinjewadi in Pune
By Vaibhav Aggarwal
Dec 3, 2008
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Public sector, Punjab National Bank (PNB) is all set to launch its 16th branch in the Pune circle. The bank has decided to start this new branch at Hinjewadi.

The branch is expected to be operational from December 5th, said Anil Bhan, Pune circle head of PNB. The Pune circle which comprise of nine districts of western Maharashtra will have a total of 50 offices in the area with the launch of this branch.

Mr. Basin said, "Taking into consideration the diverse requirements of customers, we have opened 6 more branches in Pune Circle in the last one year. We have also provided 26 more ATMs. With this, the total number of ATMs has now become 44. Through Internet banking, customers can do banking operations from anywhere now."

He further added that, "We are committed to meet the necessities of customers like home loans, car loans and education loans. During the current financial year alone, we have disbursed more than Rs 175 crore under various retail schemes." The bank's major focus area has been to extend loans to students who need funds to pursue their higher education. "During the current financial year, we have sanctioned loans amount to Rs 10.54 crore to 280 students," said Basin.

In order to raise banking awareness among young students and unprivileged lot of the society, PNB has also introduced the facility ‘zero balance PNB Vidyarthi and PNB Mitra accounts', with zero service charges. The head also mentioned that, "In the Pune Circle, with a view to provide relief to distressed farmers, we have waived/written off agriculture loans of Rs 551 lakh of 1,689 farmers."

The bank has chosen Hinjewadi for its new launch because the area is developed as an important IT hub and through this branch bank intends to focus on IT companies and professionals.

PNB has about 4,600 offices across the country.

Recently the bank has also decided to expand its overseas presence by opening branches in Canada, Norway and Bhutan. Presently the bank has its international offices in Dubai, United Kingdom, Hong Kong, Shanghai, Singapore and Kabul.


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