PNB launches financial product for traders
New Delhi, Mar 24 (UNI) With a view to tapping a large trader base in the country, the Punjab National Bank today announced the launch of a new financial product, called 'Super Trade' under which funds will be made available to traders without much hassle.
'' For assessing the financial needs of the traders, the bank will require no other financial documents except for Sales Tax Returns,'' the PNB said in a release here.
Traders' stocks and receivables will act as the hypothecation while the rate of interest on the loan amount will have linkage with the value of immoveable property offered as collateral security.
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