PNB to cover over 1500 villages in Orissa

Bhubaneswar, Jan 29 (PTI) State-run Punjab National Bank(PNB) today said it would cover over 1,500 villages under thefinancial inclusion plan by March this year.

Stating that the bank was to cover 1,500 villages withpopulation of over 2,000 by March, 2011, PNB Chairman K RKamath told reporters here that 1,246 villages have alreadybeen covered. PNB has been allotted 4,800 villages across thecountry for financial inclusion.

The bank has opened 62.64 lakh ''No Frill''/PNB Mitraaccounts and issued more than 53,700 general credit cards.

Referring to PNB''s performance in Orissa, Kamath saidthe bank aims at raising its business from Rs 4,600 crore atpresent to Rs 10,000 crore by March 31, 2012 in the state.

In order to increase its reach to the masses, the bankwhich has 71 branches in Orissa now intends to open 29 newbranches to attain the level of 100 in the state before theclose of the current financial year.

Kamath also said that the bank''s credit to agriculturegrew by around 25 per cent to cross Rs 33,000 crore during thefist nine months of current fiscal, while credit to micro,small and medium enterprises crossed Rs 44,000 crore byDecember 2010, showing over 35 per cent growth. PTISKN CR MR