Punjab & Sind Bank Celebrates 117th Foundation Day- Launches various new products to attract gen-next Customers

Bengaluru, 25th June 2024 : Keeping its commitment to customer service and community empowerment, Punjab & Sind Bank announced a series of innovative new offerings to mark its 117th Foundation Day under the theme of “Igniting Growth, Innovation and Excellence”. The initiatives included brand new products and services, new digital offerings within the PSB UNiC app, new partnerships, and CSR activities.

The Foundation Day celebration started with Akhand Path Bhog at Bangla Sahib Gurudwara, followed by opening of ATM mobile van and inauguration of Model branch at Safdarjung Enclave, New Delhi. The event was spearheaded by Shri Swarup Kumar Saha, MD&CEO of Punjab & Sind Bank, at the Bank’s corporate office in New Delhi, and was graced by the Bank’s Executive Directors Shri Ravi Mehra and Shri Arun Kumar Agarwal, Chief Vigilance Officer, GMs, Senior officials, and other Bank staff members.

Addressing the staff at the launch of various new products, Shri Swarup Kumar Saha, MD & CEO of Punjab & Sind Bank, highlighted the importance of harnessing the Bank’s full potential as it ventures into the next phase of its evolution. He stressed the significance of digitisation and modern Banking practices in broadening the Bank’s business horizons. These new product initiatives, he explained, are a testament to the Bank’s dedication to making a positive societal impact and creating a more sustainable future for all. He also paid tribute to the visionary founders of the Bank and expressed heartfelt gratitude to customers, employees, and stakeholders for their unwavering support throughout the Bank’s journey.

Under the new products and services “Nayi Shuruyat”, the Bank launched a Mobile ATM Van, PSB Gaurav Bachatt Salary accounts for Defence sector, Agniveers & Paramilitary forces (SB Salary Product with lucrative component of Insurance coverage of Rs.1 Crore), PSB RERA PLUS Current accounts (Current account product for builders/realtors etc.), PSB Shubharambh (a current account product with lucrative waivers in service charges for first time on boarded MSME Customers with PSB). The Bank also introduced PSB Pink debit card for women and transformed its Safdarjung branch into a model smart branch.

The Bank also launched a series of customer-centric digital offerings through its omnichannel PSB UNiC App, designed to ensure secure and hassle-free Banking services. Some of the offerings include opening savings accounts through video KYC, Bulk NEFT/RTGS, access to free CIC credit score, UNiC App registration through Aadhaar OTP, mutual funds, Demat services through wealth-tech partner Fisdom and the opening of Sukanya Samridhi and PPF accounts.

The Bank also made several significant tie-ups such as MoU with the Indian Army for Defence and Agniveers salary accounts under the PSB Gaurav Bachatt SB salary product, MoU with Maruti Suzuki India for vehicle loans through their Digital Lending Platform “Maruti Suzuki Smart Finance” and an agreement with IIM Amritsar to promote academic research and industry interactions.

As part of the Bank’s commitment to environmental sustainability, Punjab & Sind Bank planted 117 trees in each of its zone. The Bank also donated 117 watercoolers, 117 wheelchairs, and 2 ambulances as part of its socio-economic development for the underprivileged and marginally weaker sections of the society. The Bank also carried out community development activities such as blood donation camp and a health check-up camp across its zones.

To foster close relationships with customers and to celebrate the auspicious occasion, the Bank also organised customer meet-up “Sneh Milan” in each zone.

 SVM Krishna Rao, GM HRD, delivered the welcome speech, and the vote of thanks was extended by Santosh Neeraj, DGM Planning & Development.