MoS Finance Dr. Bhagwat Kishanrao Karad inaugurates PNB branch at AURIC City, Maharashtra

On Apr 26, 2022

Mumbai, Monday, April 25, 2022: Punjab National Bank (PNB), a leading Public Sector Bank in India, today opened its new branch at Aurangabad Industrial City (AURIC), Maharashtra. Dr. Bhagwat Kishanrao Karad – Minister of State (Finance) inaugurated the Bank’s branch, accompanied by Shri Atul Kumar Goel – MD & CEO of PNB, Shri B P Mahapatra – CGM Mumbai and other bank staff.

With the inauguration of the bank branch at AURIC city, PNB’s presence has reached 389 branches in rural, semi-urban and urban areas of Maharashtra. Presently, the Bank’s branch share stands at 3 % and its business share at 3.7 % among the Scheduled Commercial Banks (SCB) in the State. With the view to scale up the market share and become a household name in this region, PNB has sanctioned the opening of 13 more branches in the State.

Presently, PNB has ten branches with Rs 1000 plus crore of business in the Aurangabad district. The opening of the AURIC city branch allows the Bank to cater to the need of more than 37 lakh populace in the district.

With the opening of the new branch, the Bank touches 400th milestone branch and 525th ATM in Mumbai Zone (Including Maharashtra and Goa). The AURIC branch will provide customer-friendly services, including the Bank’s latest offerings like Cardless Cash Withdrawal, Virtual Debit Card and doorstep banking, among others.

AURIC is one of India’s first greenfield industrial smart cities along the Delhi-Mumbai Industrial Corridor (DMIC). The environment-friendly city, which has attracted an investment of up to Rs. 5500 crore, is expected to become a major manufacturing hub in Maharashtra and generate large-scale employment opportunities in the next 15 years, with increased opportunities for the Bank to meet their financial requirements.

Speaking on the announcement, Shri Atul Kumar Goel, MD & CEO of PNB, said, “We have recognized AURIC city’s rich potential as an economic hub that will unlock substantial industrial advancement in the region. This is an opportunity for us to contribute substantially to the prosperity and development of this region while facilitating as the first point of contact for providing a best in class financial products and services.”

Inaugurating the branch, the chief guest Dr. Bhagwat Kishanrao Karad, Minister of State (Finance), congratulated PNB, its employees and residents of Maharashtra. He said, “PNB has played a pivotal role in serving underprivileged and underbanked customers. Financially enabling this segment of citizens is crucial to Hon’ble Prime Minister Shri Narendra Modi’s vision of ‘Atma Nirbhar Bharat’ and India becoming a 5 Tn economy.

With a network of 10,000 plus branches and a total business of Rs 19.40 lakh crore as of March 31, 2022, PNB proudly serves a customer base of more than 18 crores across the country.

The Bank has been successfully serving the country for 128 years. The recently amalgamated PNB has emerged stronger to play an essential role in the nation-building exercise, thereby supporting the government’s vision of financial inclusion and boosting the entrepreneurial spirit in the country.

PNB assures one of the best banking service delivery infrastructure and a strong branch network in the country, enabling seamless customer service and ready access to a diverse range of tailor-made financial products and services.