PNB plans model for service delivery

In an effort to bring banking services to the doorsteps of the customer, public sector Punjab National Bank (PNB) intends to launch technology driven business correspondent model of service delivery in Orissa.

For the purpose it plans to launch ‘smart card' or ‘hand held device’ in the state soon. However, it will depend on the support of the state government.

“The traditional branch banking has lost its utility and we are developing the business correspondent model to render banking services at the doorstep of the customers”, K C Chakrabarty, chairman and the managing director (CMD), Punjab National Bank said.

Inaugurating the e-ticketing facility at the Bhubaneswar Railway Station, Chakrabarty said, the bank will introduce new technology based models where bank will reach out to the customers rather than the customers approaching the bank for availing services.

 

A business correspondent is an agent of a bank authorized to undertake transactions on behalf of it, including collection of small-value deposits, disbursal of small-value credit, and sale of micro-insurance and other financial products and undertake financial transactions on behalf of the government and other third parties. PNB’s business correspondents will carry hand-held point-of-sale equipment fitted with a printer and a biometric identification device.

This has been started as a pilot project in Rajasthan and based on the response, is proposed to be expanded to other states including Orissa, Chakrabarty added.

Further, as a measure technological modernisation, the bank plans to open 15 more ATMs in Orissa during the current fiscal which will take the total ATMs of the bank to 44 by the end of 2008-09. Besides, the bank intends to open 2 more branches at Daringibadi and Bolangir during this fiscal. The bank has 61 branches in the state at present.