Punjab National Bank (PNB) has taken a big step towards supporting Rajasthan’s growth. The public sector bank has signed a Memorandum of Understanding (MoU) with the Rajasthan government to provide ₹21,000 crore financial support under the state’s Rising Rajasthan initiative. This move aims to boost development projects and strengthen the state’s social and economic progress.
PNB’s Contribution to Rajasthan’s Development
During the event in Jaipur, PNB’s MD & CEO, Ashok Chandra, said: “It is a matter of pride for us to be part of Rajasthan’s development journey. With our wide branch network, digital banking capabilities, and financial services, we are committed to supporting the state’s socio-economic growth.”
He added that this MoU will create a structured framework to fund eligible projects and is part of PNB’s mission to accelerate development at the national level.
Empowering Women Entrepreneurs and MSMEs
On his visit to Jaipur, Ashok Chandra distributed 2,000 loan sanction letters to women entrepreneurs at a Self-Help Group (SHG) loan distribution event, attended by nearly 3,000 members.
He encouraged MSMEs (Micro, Small, and Medium Enterprises) to use PNB’s digital platforms for easier access to government schemes and financial services.
Focus on Digital Banking and Customer Support
During his one-day visit, Chandra also inspected PNB’s major branches and ATMs in Jaipur. Under the Customer Outreach Programme, he directly interacted with customers and stressed the importance of:
- Digital adoption
- Financial inclusion
- Fraud prevention
He also reassured that serving PNB’s 18.5 crore customers with excellence and customer satisfaction remains the bank’s top priority.
Rajasthan CM’s Statement
Rajasthan Chief Minister Bhajanlal Sharma called the agreement a historic step. On social media, he wrote:
“A MoU has been signed between the Finance Department and Punjab National Bank. Under this MoU, PNB will provide financial assistance for various development projects of the state government. This is a decisive step towards achieving the goal of a ‘Developed Rajasthan’.”
Benefits of the Rising Rajasthan Initiative with PNB’s Support
- Boost to investment and job opportunities
- Financial support for women entrepreneurs and MSMEs
- Easy and secure banking through digital services
- Faster social and economic development across the state
Conclusion
The ₹21,000 crore partnership between PNB and the Rajasthan government is a milestone that will strengthen the state’s economy. With special focus on women, MSMEs, and digital banking, this initiative is a strong step towards building a Developed Rajasthan.