Pnb Seeks Rbi Nod For 4 New Branches

The Punjab National Bank (PNB) has approached the Reserve Bank of India (RBI) for permission to set up four new branches in the Kolkata region.

The bank management has asked for licenses for opening branches at Habra, Nagerbazar, Garia and Survey Park. The bank has also finalised 15 locations in West Bengal where it wishes to open new branches, PNB sources said.

To strengthen its local reach, PNB will issue a total of 3,000 kisan credit card (KCC) by the end of the fiscal in the eastern region, said the senior regional manager, eastern region, R K Dubey.

The bank today distributed 1,000 credit cards through its seven branches in the district of 24 Parganas.

PNB has taken up an active programme to distribute KCC in this part of the country.

"We have been active in Uttar Pradesh, Punjab, Haryana, but the eastern region lagged behind," he said.

"The initiatives taken will help us in covering our operational area. We have a low target, but we will try and distribute as many cards as possible," he added.

The bank has earmarked Rs 20,000 per village for educating the masses and create awareness with regards to KCC and SCP loans. The bank has also actively taken up educational loans. This year the Kolkata region disbursed Rs 10 crore for 344 accounts under education loan. Under the KCC scheme, PNB has issued 2.29 lakh cards through out the country against RBI's target of 86,000 cards during 2000-01.

Majority of PNB's branches in rural areas. "Around 70 per cent of our branches are located in rural areas," said Dubey.

"However, the ratio is skewed towards urban branches in the eastern region where we have 16 rural branches against a total of 325 branches. Each rural branch caters to the requirement of around 7-10 villages," he said.