INVC,,
Delhi,,
The Ministry of Micro, Small & Medium Enterprises, Govt. of India presented National Awards on 2nd September, 2011 to outstanding Entrepreneurs as well as to Public Sector Banks in recognition of their services for excellence in lending to Micro & Small Enterprises Sector as well as under Prime Ministers Employment Generation Programme (PMEGP) and Khadi Village Industries Commission Interest Subsidy Schemes.
The awards were presented by Smt. Pratibha Devi Singh Patil, Her Excellency Hon’ble President of India and Shri Virbhadra Singh, Hon’ble Minister of Micro, Small & Medium Enterprises, Govt. of India at Vigyan Bhawan, New Delhi.
The Govt. of India under the Banks category awarded 2 National Awards to Punjab National Bank- One award for excellent performance in lending under PMEGP scheme in North Zone and the other award at National level for excellence in lending under Interest Subsidy Eligibility Certificate (ISEC) Scheme of KVIC.
On behalf of PNB, Smt. Usha Anathasubramanian, Executive Director received the awards.
PNB is always front runner for implementation of various GOI schemes and programmes for Employment Generation, financial inclusion and Poverty alleviation.
As on March 2011, PNB’s MSME portfolio of Rs.45296 crore constitutes 19.98% of total Bank Credit. During 2010-11, the bank has achieved growth of 29.29% in MSME Sector and 44.82% in Micro advances.
To meet 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 for Micro & Small Enterprises, is extending collateral security free & guarantee free loans upto Rs 100 lakh to all Micro & Small Enterprises borrowers.
