Entrepreneurs meet organised by PNB, Mohali

The Punjab National Bank, Lead Bank Office, Mohali, falling under circle office, Ludhiana, organised a MSME meet here at Hotel Majestic Mohali. K.S.Mahal, General Secretary, Mohali Industries Association was the Chief Guest on this occasion.

The function was presided over by GS Chauhan, DGM, circle head, Punjab National Bank, circle office, Ludhiana. In his inaugural address, Chauhan said that the PNB had strived to reach each entrepreneur for his financial needs with wide range of schemes. The bank had made schemes for both manufacturing and service sector enterprises on attractive rate of interests and simplified the procedure for processing the loan proposals through specialised SME branches. The SME meets were being held in every district to create awareness among the prospective entrepreneurs.

He further informed that Credit needs of Micro Enterprises borrowers; particularly to those who are not able to meet collateral security/guarantee requirements of Financial Institutions, PNB in participation with Credit Guarantee Fund Trust is extending collateral free & guarantee free loans to all Micro & Small enterprises borrowers up to Rs. 1.00 Crore. Chauhan while addressing open session to answer questions/queries/suggestions/ grievances of the Entrepreneurs gave on the spot solution to issues raised and assured that PNB is always open and value their suggestions for ensuring services of higher customized order to the satisfaction of its clientele. While concluding Chauhan informed that the Bank has launched “PNB Festival Season Bonanza Scheme 2009” which inter-alia, seeks to offer housing loan up to Rs.30.00 lacs at a very attractive interest rate of 8.5% (fixed, with a reset clause of three years) besides full waiver of processing fee and documentation charges and reduction in margin. This offer is valid upto 31.12.2009.

K.S. Mahal in his address congratulated the Punjab National Bank on organizing such meets for the benefits of the entrepreneurs. Further he desired that the Banks should stand as project partner to the Industries as Finance is the blood for running the enterprises. He also expressed pleasure that PNB is promoting SME sector in the state a lot. He also offered the infrastructure for conducting such type of meet in future.

P.K.Jain LDM informed that the main task of his office is to promote Agriculture and MSMEs with the objective of upliftment of society and to create healthy economic environment in the District with the help of Bankers as well as District Authorities. He assured that PNB will always be not only a friend in need but also friend indeed for meeting the financial needs of the entrepreneurs in the District. He thanked the customers for sparing their valuable time for attending this MSME meet. All the branch Managers of PNB in District Mohali including D.K.Jain,AGM and O.P.S.Rana,Chief Manager were also present in the meet.

Presentation on various schemes for entrepreneurs was shown on slides.