PNB signs MoU with IL&FS

PNB will finance projects worth Rs 2,000 crore in this project.

Initially 50 clusters will be taken up for consideration, with a financing of Rs 1,200 crore. This will be used to bridge infrastructure gaps for the industrial clusters for the SMEs.

Speaking on the occassion, PNB chairman said, "Farm loan waiver will cost us rs 1,500 crore. Our deposit rates and interest rates will remain unchanged".