Punjab National Bank (PNB) has launched a mobile application based on the GST Sahay scheme, an end-to-end digital product under which lending can be done using GST invoices. With this integration, PNB has become the first public sector bank to facilitate frictionless credit flow to MSMEs using GST invoices.
The initiative is also in line with the bank's strategy to further the development of the MSME sector and digital credit ecosystem in the country. The PNB GST Sahay App makes the entire loan process digitised and helps eliminate any manual intervention for borrowers and makes the process more cost-effective, fast, and smooth. Through this service, the loan amount will be directly credited into the borrower's current account with the bank.
PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.
Company Name | CMP |
---|---|
SBI | 832.05 |
Bank Of Baroda | 266.65 |
PNB | 128.20 |
Canara Bank | 116.25 |
Union Bank Of India | 157.30 |
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