PNB sanctions loans of Rs 6,757 crore

Chennai: Punjab National Bank, India’s second-largest public sector lender, has been one of the top lenders to small businesses under the government’s emergency credit line guarantee scheme (ECLGS).

As of 25 June, PNB has claimed sanctioning of Rs 6,757 crore in 296753 eligible MSME accounts under Guaranteed Emergency Credit Line (GECL) out of which disbursements have been made to 59204 accounts amounting to Rs 2030 crore.

S S Mallikarjuna Rao, managing director and CEO of Punjab National Bank said in a statement, “PNB values its esteemed MSME customers and the bank will stand by them and support them through this crisis. This year we commit our support to overcome this crisis and reignite the country’s economy.”


NT Bureau