PNB launches scheme for women

New Delhi, Mar 7 (UNI) Ahead of the International Women's Day tomorrow, Punjab National Bank (PNB) has launched a scheme to empower women in rural and semi-urban areas by encouraging them to undertake income-generating activities.

The scheme 'PNB Kalyani Card Yojna' aims at providing hassle free credit to women for self-employment generation in traditional or newer sustainable productive activities.

The PNB Kalyani Card will be issued for three years for meeting working capital requirement of agriculture/allied agriculture activities/ non-farm activities either singly or in combination with other activities.

Need based credit up to Rs 50,000 will be provided as revolving cash credit limit keeping in view the annual income stream of the household and repaying capacity of the women.

The literate and illiterate women dwelling in rural and semi-urban areas, aged 18 years and above, will be eligible to avail the scheme either individually or in groups.

Such women shall include individuals, farmers, landless labourers, agricultural labourers, tenant farmers, sharecroppers and lessee farmers.

No margin/collateral security/third party guarantees collateral security will be taken under the scheme.

The lower rate of interest is charged at BPLR minus 2.50 per cent pa.

No processing/card issuing/folio charges are levied.

The card holder can deposit and withdraw any number of times within the overall limit. Interest at Savings Fund rate shall be paid on the credit balance in the cash credit account of the card.

UNI