Punjab & Sind Bank inaugurates MSME sports cluster branch in city

Punjab & Sind Bank inaugurated its new MSME sports cluster branch at Football Chowk here recently. The inauguration ceremony was attended by M. Nagaraju, Secretary, Department of Financial Services, Ministry of Finance, Government of India, who attended as the chief guest. The event was also attended by Atul Kumar Goel, Chief Executive, Indian Banks' Association, along with senior officials and industry representatives.

M. Nagaraju commended Punjab & Sind Bank for its initiative to strengthen the MSME ecosystem through cluster-focused branches. He said, "Over the past few years, public sector banks have emerged stronger and more resilient, with credit growth outperforming their private peers in the recent past and net NPA dropping to a historic level of below 0.5 per cent. This reflects the growing robustness of the banking community, with significant improvements in due diligence, credit underwriting standards, and monitoring mechanisms for project loans. Today, customers are returning to public sector banks because of their renewed focus on efficiency, transparency and trust."