PNB's Digital Leap: Empowering Street Vendors and Strengthening Governance

Punjab National Bank (PNB) launches a digital solution for PM SVANidhi, streamlining access to working capital for street vendors. This move, alongside enhancements in staff accountability and risk management, underscores PNB's dedication to technology-driven efficiency and ethical governance, aligning with India's broader development goals.

State-owned Punjab National Bank (PNB) has introduced a digital solution to support the PM Street Vendor's AtmaNirbhar NIDHI (PM SVANidhi) initiative, bolstering its service offerings.

The bank's latest measures emphasize its commitment to using technology for improved efficiency and accountability, as stated by PNB on Tuesday.

The PM SVANidhi scheme, initiated by the Union Housing and Urban Affairs Ministry in 2020, aims to offer affordable working capital loans to street vendors impacted by the Covid-19 pandemic to aid in their economic recovery. Beyond this, PNB has also digitized its staff accountability portal and implemented a conduct risk framework for employees.

Central Vigilance Commissioner Praveen Kumar Srivastava unveiled these initiatives, with PNB's MD & CEO Ashok Chandra, ED Bibhu Prasad Mahapatra, and CVO Raghvendra Kumar present. Additionally, the event featured the release of the 5th Edition of 'PNB's Vigilance Manual 2025' and the September 2025 issue of the quarterly magazine 'PNB Vigil'.

Srivastava highlighted the crucial role banks like PNB play in societal well-being, economic growth, and livelihood creation, stressing a culture of vigilance based on ethical commitment rather than punitive measures. This proactive stance enriches individuals, organizations, and society, aiding in India's journey towards a developed nation by 2047. Chandra echoed these sentiments, pledging PNB's dedication to fostering growth rooted in integrity, ethics, and transparency.

(With inputs from agencies.)