Chennai: Punjab National Bank, India’s second-largest public sector lender, celebrated Small Industry Day by offering PNB Seva Scheme, to provide adequate funding to the small-scale industries enabling them to meet their working capital requirements in this unprecedented times.
According to a press note, the scheme offers need-based financing through working capital (CC/ OD as applicable), Term Loan, and Non fund based limit to the small scale industries.
“SMEs and MSMEs are value-generating engines of the economy. They contribute to the GDP, create employment opportunities, and play a vital role in exports. In these unprecedented times and due to prolonged lockdowns, this segment has been the hardest hit. As India’s second largest public sector bank, PNB stands strong to ensure SMEs and MSMEs get financial support and don’t face difficulties in gaining access to affordable and timely credit,” it said.