Punjab & Sind Bank Unveils Innovations on 119th Foundation Day

Punjab & Sind Bank celebrated its 119th Foundation Day with new digital banking solutions and a strong focus on customer needs. The event highlighted significant achievements in MSME growth and digital initiatives including a new mobile application and digital currency services, amid a successful year in profits.

Punjab & Sind Bank marked its 119th Foundation Day with a notable event in Delhi, introducing innovative digital initiatives and emphasizing customer-centric solutions. The bank unveiled a fresh Vision and Mission Statement alongside the launch of several key services including the Navjyoti mobile app for HR, Central Bank Digital Currency (CBDC) services, Digital Gold Loan facility, and the PSB Bharat Connect account tailored for government employees.

This milestone event, underscoring more than a century of operations, was graced by high-ranking officials such as Department of Financial Services Additional Secretaries Debashish Prusty and Hari Har Mishra, and DFS Joint Secretary Ashish Madhorao. Representatives from esteemed institutions like the National Housing Bank, IFCI, LIC, and Coal India joined the celebration. Prusty commended the bank's resilience and its robust position under the current government leadership.

He highlighted the banking sector’s resilience and particularly praised Punjab & Sind Bank's MSME growth, noting a remarkable 30% increase. The bank's accomplishments, including its significant Rs1322 crores net profit milestone, were lauded by MD & CEO Swarup Kumar Saha. Additionally, corporate social responsibility efforts, such as regional environmental programs and tree planting drives, were spotlighted as part of the bank's contributions to society.