PNB starts first gold coins sale centre in Kashmir

Srinagar, Aug 10 (UNI) The Punjab National Bank (PNB) has started first-of-its-kind exhibition-cum-sale of gold coins in the Kashmir valley.

During the inauguration of center, minister for Power Nawang Rigzin Jora said, it is for the first time that any bank has started its gold coins sale counter in Kashmir valley and hoped that the customers would get 24-carat-gold coins from this counter.

He said due to emergence of more banks the competitive banking has become customer friendly, but at the same time suggested the Bank to improve its Credit Debit ratio which is 38 per cent at present.

The Minister said economic buoyancy is dependable on liberal banking and better credit facilities, adding that all banks operating in the State would be more flexible for extending easy lending facilities to the unemployed youth under Self-Employment Schemes (SES).

He said banks need not be worried about recoveries under SES as the Deputy Director of Employment has been delegated powers of collector for recoveries.

He asked the PNB to open new branches in the State to facilitate the customers and extend its lending facilities under services and business sectors.

Speaking on the occasion, Zonal Manager PNB Vivek Arya said bank has been rendering its services since 1895 and it was in 1905 that its started its functioning in Jammu and Kashmir.

He said presently the PNB is operating in the State through its 73 computerised and well-equipped branches. PNB is first bank which has ventured into marketing sector for sale of gold coins and is already running two gold coins sale counters in Jammu.

The gold coins, he said, sold on PNB counters are minted in Switzerland and are tax paid. The account holders of PNB would get two per cent discount while purchasing gold coins from bank counters.

UNI