PNB invests Rs 7868 cr in Tamil Nadu

By Staff
|
Google Oneindia News

Chennai, Apr 13: Punjab National Bank (PNB) registered a business of Rs 7868 crore in March 2007, comprising Rs 2962 crore deposits and Rs 4906 crore advances.

Talking to newspersons here today, PNB Zonal Manager Jagatram said "PNB's YOY growth in total business was 34 per cent with the total customer base of about 6.6 lakh".

The CD ratio of the bank in Tamil Nadu stood at 166 per cent, the maximum in March 2007, he added.

Mr Jagatram said all the branches of the Zone had been computerised and 84 per cent of the branches were networked under CBS, which offers "Anywhere Anytime Banking", he said adding SFMS had been installed at 75 branches and RTGS had been enabled at 25 branches in the Zone, facilitating intra-bank and inter-bank transfer of funds.

The Zonal Manager also said that today being the 112th foundation day, the bank announced three new products,'Everse Mortagage Loan' (PNB Baagbaan), 'PNB Floating Rate Fixed Deposit Scheme' and 'PNB Arogya Shree." While explaining about the new schemes, he said PNB Baagbaan, which aims to address the financial needs of senior citizens owning self occupied property for leading a decent life.

On floating rate fixed deposit scheme, he said a fixed deposit scheme where the rate of interest payable on the FD will automativally change with the change in fixed deposit rate of the bank from time to time.

The PNB Arogya Shree scheme will provide health insurance facility for its customers and for which the bank has tied up with Reliance General Insurance company to provide medical insurance at competitive rates, he added.

UNI

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