Information on punjab national bank loan schemes, sme loans, micro financing in India | SupportBiz

Punjab National Bank

In an exclusive interaction with UN Aggarwal, Assistant General Manager (AGM), SME Cell, Punjab National Bank, SupportBiz learnt that the bank is presently serving 4.68 lakhs micro, small and medium enterprises (MSMEs) across India. This nationalized bank is committed to providing the best services to their MSME customers through their schemes for businesses in different segments.

Aggarwal stated that the bank has over 88 MSME specialized branches all over the country, while several other branches also deal with MSME customers. The purpose of starting these specialized branches was to make the processing of loans easier and quicker.

“We cater to all kinds of entrepreneurs, and have different schemes for different people,” he said.

Aggarwal said that there are 11 schemes currently being offered by the bank for the benefit of the MSME segment (https://www.pnbindia.in/En/Ui/SSI-Schemes.aspx).

Sarthak Udyami – This scheme aims at helping micro and small enterprises engaged in production, with an investment of up to Rs 25 lakh, to set up new units or expand or modernize their existing units. No collateral security or third party guarantee is required for loans of up to Rs 1 crore.

PNB Pragati Udyami - This scheme provides financial assistance to both new and existing units for acquiring fixed assets such as land and machinery. No collateral security is required for loans of up to Rs 10 lakh.

PNB Vikas Udyami - This scheme provides funds for acquiring ISO-9000 certification. Expenses on consultancy, documentation, audit certification fees, equipment and calibrating instruments are taken into account for determining the loan requirement. No collateral security or third-party guarantee is required for loans of up to Rs 100 lakh covered under Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE).

PNB Kushal Udyami - This scheme provides loans to craftsmen and technically qualified entrepreneurs to set up micro or small units and for the purchase of fixed assets. No collateral security is required for loans of up to Rs 10 lakh.

PNB Garage Yojana - This scheme provides funds for technology upgradation of units. It does not require any collateral security or third-party guarantee for loans of up to Rs100 lakh.

Loans for setting up industrial estates, financing co-operative societies, partnership firms and joint stock companies of entrepreneur’s societies for establishing industrial estates:  This scheme enables co-operative societies and joint partnership firms to purchase land or build factory sheds. Valid mortgage of land, buildings and other immovable assets of the entrepreneurs is required.

PNB SME Sahayog Scheme - This scheme provides financial assistance to meet the unforeseen expenditure of SME enterprises having a good track record. Collateral security has to be obtained as per the bank’s extant guidelines. 

PNB Artisan Credit Card - The motive of the scheme is to provide hassle-free financial support to artisans and to make credit delivery simple and easy. No collateral security or third-guarantee is required. The loan has to be covered under the Credit Guarantee Scheme of CGTMSE.

PNB Laghu Udyami Credit Card – This is a simplified loan delivery mechanism, which aims at providing hassle-free financial support to small business units, retail traders, artisans, village industries, micro and small enterprises, and self-employed persons. No collateral security or third-party guarantee is required for loans of up to Rs 100 lakh covered under Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE).

“Although we do not have any new projects in the pipeline presently, the bank is definitely working to bring more benefits to the MSME segment. We can float a new scheme at any time, depending upon the schemes being provided by other banks,” he said.

“The rate of interest on loans offered by Punjab National Bank is lesser than that of other banks. We provide loans to MSMEs at a rate of interest between 10.25 and 15.25 per cent,” Aggarwal said.

“We ensure committed service for the satisfaction of our MSME customers, and aim at helping them reach their dreams,” he said.