Punjab & Sind Bank is planning to launch instant loan scheme up to Rs 25 lakh for the MSME sector during this month as part of its initiative to push credit through its digital platform. As part of its transformative agenda, the bank has already introduced digital home loan and vehicle loan schemes under which in-principle approval to an application is given within 15 minutes
Earlier, the bank had launched e-Bank Guarantee (e-BG) facility in partnership with National e-Governance Services (NeSL) that replaces the paper-based BG issuance process with e-stamping and e-signatures.
Punjab & Sind Bank’s primary business is taking deposits, and making advances and investments, and is principally divided into retail banking, corporate banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance, distribution of mutual funds and pension and tax collection services.
