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PNB to open two more branches, 10 ATMs

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Good start: S. M. Veerappan (second right), AGM and Head of Tiruchi circle, Punjab National Bank, inaugurating the bank’s first ATM in Tirupur on Monday.
Good start: S. M. Veerappan (second right), AGM and Head of Tiruchi circle, Punjab National Bank, inaugurating the bank’s first ATM in Tirupur on Monday.

Staff Reporter

Tirupur: The Punjab National Bank will open two more branches and 10 ATMs within the Tiruchi circle (comprising 23 districts including newly-notified Tirupur district) before the end of the current financial year, according to S. M. Veerappan, Assistant General Manager and head, Tiruchi circle, PNB.

After inaugurating the bank’s first ATM in Tirupur on Monday, he told reporters that new branches would come up at Hosur and Tiruchengode. Of the 10 ATMs planned, the ones being established at Coimbatore railway station, Tiruchi and Kumbakonam would be commissioned shortly.

He said that the bank had slashed Prime Lending Rate (PLR) by 0.5 percent with effect from November 1 for the benefit of customers. To give thrust to priority sector lending, the bank had disbursed 7,288 credit cards in Tiruchi circle during this financial year till September 30.

Similarly, the bank had recently entered into tie-ups with five sugar mills at Nellikuppom, Kumbakonam, Erayoor, Periyasamypuram and Tiruchi to extend credit facilities to farmers engaged in sugarcane cultivation.

Free training

As a capacity building exercise, the bank had given free training on ‘modern farming practices’ to 4,900 farmers at its training institute at Pillayarpetti (Sivaganga district) this fiscal.

Mr. Veerappan said that the percentage of non performing asset to loan outstanding in the circle had reduced to 3.40 percent during the first half of the current financial year ending September 30 vis-À-vis 5.30 percent registered during the corresponding period last fiscal.

He said that the Tirupur branch had brought NPA to nil as on September 30.

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