Punjab National Bank (PNB) has sanctioned Rs 8,690 crore loans in 4,04,675 accounts to the micro, small and medium enterprises (MSME) sector under the Emergency Credit Line Guarantee Scheme (ECLGS). Of the sanctioned amount, the lender has already disbursed Rs 2,595 crore of loans in 79,029 accounts so far.
In May, the government announced ECLGS, a 100 per cent credit scheme worth Rs 3 lakh crore to support the MSME sector, which has been adversely affected by disruptions caused by the coronavirus pandemic. The bank, through its campaign, 'Each One Reach Ten Each Day', contacted more than one lakh customers, including MSMEs, to update about the COVID-19 schemes on a daily basis.
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.
