PNB aims to expand N India base

Punjab National Bank aims to expand its base in northern India to provide banking facilities at the doorsteps of people as it declares 2008, the year of financial inclusion.

At a press conference held here on Wednesday PNB Chairman and Managing Director K C Chakarborty said that till today nearly 75 per cent of the country's population did not have any access to banking services and availed its facilities.

However, he said PNB aims to cover maximum population in the northern part of the country and provide them banking facilities in the year of financial inclusion.

Chakraborty said that PNB has targeted to implement 10 banking pilot projects in northern part of the country in 2008 to facilitate people's access to banking services.

He said already three such projects were functioning at Taneri (Bihar), Neemrana (Rajasthan) and Matki Jharoli (Uttar Pradesh). PTI

Chakraborty said that the bank has already opened four lakh no frills accounts till March 2007 and targeted to open 10 lakh more such accounts by the end of 2008.

He also said that PNB would extend financial assistance to small and medium enterprises since they contributed significantly for the development of the country's economy.