Champion Of Inclusion
The fourth largest bank by assets in the country has been aggressive in providing banking services in the hinterland.
The state owned Punjab National Bank (PNB) has taken the digital highway to reach out to the financially excluded all thanks to the use of cost effective e KYC, Aadhaar enabled payment system (AePS), online loan tracking system and data analytics to predict defaults or frauds.
The use of e KYC saw the number of accounts jump 13 per cent from 7.18 million in December 2017 to 8.11 million in December 2018. Online registration for social security schemes through banking correspondents (BCs) is also a hit, while its
