Punjab National Bank, one of the nationalised banks in the country, is offering rent free lockers for its Non-Resident Indian (NRI) customers who are maintaining a minimum balance of Rs.5 lakh under an NRI scheme and 10,000 US dollars or its equivalent in FCNR (B) scheme, said S.M. Veerappan, Deputy General Manager and Circle Head of the bank, Tiruchi, here on Friday.

Inaugurating a special seminar on NRI accounts and launching of NRI deposit mobilisation campaign, Mr. Veerappan said that the bank was focussing on NRI deposits and was providing special services and concessions to its NRI customers.

He said that the bank had an e-bay (a centralised centre) at New Delhi for opening of accounts received from overseas offices and NRIs. The bank provides internet banking facilities to NRI customers with both view and transaction facilities, he said.

Mr. Veerappan pointed out that the PNB also provides housing loans to NRI customers and it had rupee drawing arrangement with 21 exchange houses and had tied up with Buyindiaonline.com (zoom.com), Xpress Money, Moneygram and Moneygram for remittances from abroad to any part of India.

He said that the Tiruchi circle of the bank had shown a growth of 71 per cent in NRI deposits between March and November this year looking to the scope of NRI deposits. The bank had conducted special campaigns at Ramanathapuram, Nagercoil and proposed to conduct similar customer education programmes at its branches in Mayiladuturai, Kumbakonam, Karaikudi and Coimbatore. A dedicated marketing team headed by a chief manager in Tiruchi is catering to the needs of NRI customers, he said.

C.M. Yadav, Chief Manager, International Banking Division of PNB in New Delhi who addressed the seminar had clarified the doubts raised by the participants. Several NRI customers and prospective NRI clients attended the seminar.

Abubakker, Director, Femina Hotel, Krishnan Chettiar, Palaniappa Chettiar, S.Selvarajan, Chief Manager, PNB, Tiruchi Circle office, and others spoke.