India's second largest public lender, Punjab National Bank has planned to expand its international presence at this time of when the banking industry is facing the heat of global financial crunch. The bank has also decides to support and build up the existing offices situated in foreign countries.

Chairman and Managing Director of PNB, KC Chakrabarty said, "The bank has a presence in overseas locations like Dubai, United Kingdom, Hong Kong, Shanghai, Singapore and Kabul. Plans are also afoot to set up our overseas branches in Canada, Norway and Bhutan."

In fact RBI has approved the bank's proposal for upgrading its Shanghai office to a full-fledged branch, opening a branch in Dubai International Financial Centre (UAE), setting up its representative office in Norway, a subsidiary at Vancouver (Canada), an offshore banking unit in Singapore and a joint venture bank in Bhutan.

Besides, the bank has also received an offer to open its branch in Fiji. "I have talked with the representatives of Fiji for opening a branch in that country," added the Chairman.

The bank plans to strengthen and expand its overseas presence in order to attract NRE, FCNR deposits and export-import businesses. As the rupee is depreciating, most banks are trying their level best to spot trade related business and remittances income from NRI deposits. Therefore the bank has also raised its NRI deposits rates recently.

Even Central Bank of India has taken a similar move and seeking RBI permission for expanding its overseas presence.

Commenting on the slowdown Chakrabarty said, "PNB's international operations have not been impacted adversely despite financial meltdown due to effective measures of the bank."

The bank has recently started its 62nd branch at Daringibadi in the tribal dominated Kandhamal district of Orissa. PNB has also launched a technology driven mobile banking service in the district. This includes the financial inclusion plan of PNB.