Punjab & Sind Bank unveils new vision, digital initiatives on 119th day

Punjab & Sind Bank marked its 119th Foundation Day by launching a new vision and several digital initiatives, including CBDC services and the Navjyoti app. Officials praised the bank's record 30% MSME growth and historic Rs 1322 crore net profit.

Punjab & Sind Bank unveiled new vision, digital initiatives and customer-centric banking solutions during its 119th Foundation Day celebrations held in Delhi on Tuesday.

New Vision and Digital Initiatives

During the event, the bank introduced its new Vision and Mission Statement. It also launched the Navjyoti mobile application for human resources, Central Bank Digital Currency (CBDC) services, a Digital Gold Loan facility, and the PSB Bharat Connect account designed specifically for central and state government employees.

The event marked over a century of the bank's operations in the country. Several dignitaries attended the event, including Department of Financial Services (DFS) Additional Secretaries Debashish Prusty and Hari Har Mishra, alongside DFS Joint Secretary Ashish Madhorao. Representatives from the National Housing Bank, IFCI, LIC, and Coal India were also present.

DFS Applauds Bank's Performance and Resilience

Debashish Prusty congratulated the bank staff during the event. He noted that the domestic banking industry maintains a highly resilient position. The Indian Banking sector stands stronger than ever before under the leadership of the Prime Minister and the guidance of Finance Minister, Prusty said.

The Additional Secretary also commended the specific operational achievements of the financial institution, particularly its recent lending metrics in the priority sectors. He also congratulated the bank on registering the highest MSME growth of 30 per cent in the banking sector, while also praising the new CBDC initiative and the Navjyoti application.

Leadership Highlights Workforce Contribution

The leadership of the bank highlighted the performance of the workforce in driving recent financial milestones. Swarup Kumar Saha, MD & CEO, Punjab & Sind Bank, praised the staff for their dedication and hard work in achieving the historic milestone of Rs1322 crores net profit.

Corporate Social Responsibility Initiatives

Alongside the business and digital rollouts, the lender organized corporate social responsibility initiatives across its regional offices. These activities included environmental programs and tree plantation drives conducted by the regional teams.

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