PNB Meets Exporters, Launches Online Trade Finance Portal

NEW DELHI:
The Punjab National Bank has organized Exporters Meet recently at ITC Maurya, New Delhi. The meeting was presided over by S. S. Mallikarjuna Rao – MD and CEO of Punjab National Bank, in the presence of Swarup Kumar Saha – Executive Director of the Bank. Vibha Aren, General Manager of International Banking Division, Corporate General Managers and other senior officials from the Bank’s Delhi zone, were also present.

S. S. Mallikarjuna Rao deliberated upon the successful amalgamation of the erstwhile Oriental Bank of Commerce and erstwhile United Bank of India with Punjab National Bank. He further discussed the organizational structure changes, focusing on the verticalization of important segments, such as risk management, credit underwriting, and forex operations to improve services. More than 65 leading exporters from the Delhi NCR region attended the event.

During the meet, PNB announced new initiatives for the exporters, such as launching an online portal named “Trade Finance Redefined” and “Video Conference with Executives”.The portal has a unique feature of 24/7 availability for submission of export documents directly to the trade finance center, thus speeding up processes and improving turnaround time.

The Bank has also increased its forex trade processing centers to four metros – Delhi, Mumbai, Kolkata and Chennai, from earlier two centers. Competitive pricing and centralization of the forex activities would provide ease of doing business for the Indian exporters.

The event was followed by a vibrant interactive session wherein the exporter clients appreciated the way amalgamation had been handled and uninterrupted services extended by the Bank amid Covid -19 pandemic. Various other suggestions regarding channel financing, tracking of export proposals, convertibility of fund-based and non-fund-based limits to the exporters were also discussed. K. Meenakshisundaram – General Manager of Bank’s Delhi Zone, has extended a vote for thanks to all participants and expressed gratitude for their contribution and continued relationship with the Bank.