PNB official harps on banking role in economic transformation

Punjab National Bank Executive Director D. Surendran, on Thursday underlined the pivotal role of the banking sector in India’s economic transformation, stating that banks are increasingly contributing to the creation of sustainable infrastructure in alignment with the Viksit Bharat 2047 vision.

Speaking at the bank’s one-day monthly retail outreach programme here, Surendran said “banks are no longer just financial intermediaries--they’re helping build the foundation for long-term national development. Housing loans, for instance, not only create assets but promote family welfare and financial discipline.”

The event, organised by PNB’s Visakhapatnam Circle Office, brought together a wide spectrum of stakeholders, including players from construction, automobile, and renewable energy sectors.

Surendran outlined the bank’s expanding product portfolio, which includes housing loans, vehicle loans, mortgage loans, rooftop solar financing, and a suite of digital banking services. “The idea is to take banking closer to the people through interactive, solution-oriented outreach,” he said.

Over 20 stalls were set up to provide information on PNB’s offerings. Attendees explored loan options, received on-the-spot consultations from bank officials, and engaged with representatives from allied sectors.

Speaking at the meeting, V. Dharmender, Chairman of CREDAI Visakhapatnam Chapter, welcomed the initiative, noting that the real estate sector is gradually recovering. “There is a need for flexible EMI structures, especially tailored for self-employed professionals and business people,” he said, urging banks to innovate in customer servicing.

Home and educational loan sanction letters were handed over to eligible applicants during the programme. Bank officials noted a strong turnout from the public, reflecting growing interest in banking solutions that support housing, education, and entrepreneurship.

Also present were Sunil Kumar Chugh, Chief General Manager of PNB’s Hyderabad Zone, and Anand Kumar, Dy.General Manager, Circle Head, Visakhapatnam, who reiterated the bank’s commitment to customer-first policies and community outreach.