Punjab National Bank signs pact with SAIL to offer loans

State-owned Punjab National Bank has signed a pact with Steel Authority of India to provide home loan, car loan and education loan to the latter's employees at concessional rates. This strategic partnership aims to enhance the financial well-being of Steel Authority of India Ltd (SAIL) employees while expanding PNB's customer base within the steel sector, Punjab National Bank (PNB) said in a statement on Thursday.

A Memorandum of Understanding (MoU) was signed by PNB General Manager - Business Acquisition and Relationship Management Division Sudhir Dalal, SAIL General Manager - Finance Lavika Jain and SAIL General Manager - HR Bikram Uppal, it said.

The MoU was signed in the presence of PNB Executive Director Bibhu Prasad Mahapatra, PNB Chief General Manager Sunil Agrawal, PNB General Manager Mohit Dhawan, SAIL Executive Director - Finance Praveen Nigam, SAIL Executive Director - HR B S Popli and other senior officials from both organisations, it added.