Punjab & Sind Bank, state-owned lender has introduced a tatkal scheme for sanctioning loans above Rs 25 crore for businesses and for fulfilling corporates’ request for quick disposal of their loan applications. Applicants can apply the loan at any branch through a SMS with the details of company’s name, gist of proposal. The bank will get back to that applicant with all details.
The bank will also be fast-tracking housing and car loans. The bank will primarily focus on lending to infrastructure (roads, ports etc), tourism and hospitality industry.
Punjab & Sind Bank, which is a GoI undertaking, is one of the six banks nationalized by the GoI in April 1980, and today, is one of 19 nationalized banks in India. In over 100 years of operation, the Bank has significantly grown its branch network with a presence predominantly in north India.
