Tag: Shri CH.S.S. Mallikarjuna Rao

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Statement of Shri CH S. S. Mallikarjuna Rao, MD & CEO, Punjab National Bank for Union Budget 2021-22

Feb 3, 2021 by Rekha Nair 0 Comments #MD & CEO, #Punjab National Bank, #Shri CH.S.S. Mallikarjuna Rao

We welcome the measures announced by Hon’ble Finance Minister inUnion Budget 2021-22. The budget rightly strikes a reasonable balance between addressing the key pillars of Health & Well-being, Inclusive Development, Human Capital, Innovation and R&D, apart from laying the path for a robust economy by providing a major infrastructure boost.The array of measures announced are in line with people as well as market expectations and will go a long way to bring the nation back on track by boosting spending on infrastructure and rural development while fighting the pandemic through health focused measures.

As far as the financial sector is concerned, further recapitalization of Rs 20,000 crore for PSBs in the FY 2021-22 is a welcome step. The other measures which are expected to strengthen the sector are as under:

• Various measures have been announced on the infrastructure front, which are expected to take the economy into a new trajectory of growth. In addition to over a 34% increase in capital expenditure, new highway projects have also been announced.
• Setting up of a professionally managed Development Financial Institution will catalyze infrastructure funding.
• Creation of an ARC and Asset Management Company that will take over the stressed assets and sell to Alternative Investment Funds(AIFs), is also welcome as it will help improve the health of the banking sector through impact on price discovery and improving competition in the market.
• The NCLT system will be strengthened and e-Courts will be adopted and alternate mechanism of debt resolution will be set up.
• The massive program for monetization of completed/ running projects will help in creating required resources through the instruments like INVITs.
• Other important announcements of bringing in the IPO of LIC, hiking the FDI limit in insurance increase to 74% from 49%, strategically divest 2 Public Sector Banks and 1 general insurance company, are steps in the right direction.

The voluntary scrapping policyproposed for discarding old commercial vehicles will boost the automobile industry. The gross borrowing programmeis also helpful to maintain the fiscal health of the economy, while providing necessary funding towards growth and development of the infrastructure.

Business World, News

PNB celebrates Republic Day with a humanitarian cause

Jan 28, 2021 by Rekha Nair 0 Comments #MD & CEO, #PNB, #Shri CH.S.S. Mallikarjuna Rao

Hyderabad/New Delhi: Nation’s leading public sector bank, Punjab National Bank (PNB) today celebrated the 72nd Republic Day with lots of patriotism and fervor.  The PNB MD & CEO Shri. CH. S. S. Mallikarjuna Rao hoisted the National flag at headquarters in New Delhi. The ceremony was attended by the EDs, CVO, CGMs and senior officials of PNB.

Saluting the warriors, Shri CH. S. S. Mallikarjuna Rao, MD & CEO, PNB said “PNB Parivar salutes the innumerable sacrifices the armed forces have made for our wellbeing. The pandemic had brought the toughest time across globe, but we now see the positivity and improvement in the economy. With the advent of the vaccine, the impact is receding. We salute the contribution and responsibility taken by our frontline warriors our medical fraternity and the healthcare industry for bringing a ray of hope.

Appreciating the contribution and the enthusiasm shown by the entire PNB Parivar 2.0, MD & CEO said “PNB has successfully completed the CBS integration with e-UBI and e-OBC in record time, managing 18crore plus customers. The amalgamation is the turnaround for the bank, the resilience in bouncing back with the animal spirit. Taking a lead as a premier bank PNB Parivar takes the pledge to strengthen the bank in the days to come.

The bank has always been a step ahead in contributing to the economy by introducing multiple initiatives. With the Gram Sampark Abhiyan, the bank has covered 29,770 villages with 14 lakh plus customers. Promoting the entrepreneurial spirit, through the MSME cluster campaign, the bank has identified 240 plus clusters targeting 400 plus customers by March 2021, MD & CEO added.

During the celebrations, PNB generously donated through the ‘PNB Prerna’ initiative to four organisations working for the welfare of various sections of the society. The initiative was headed by Smt. Janaki Chamarty, the wife of Shri. CH. S. S. Mallikarjuna Rao, MD & CEO, PNB

The financial assistance was offered to HelpAge India, Inspiration, Delhi Council of Child Welfare and Earth Saviours Foundation, providing them with the necessary support during these difficult times. Donations were made at a ceremony organised at the PNB Staff Training CSC, Civil Lines, New Delhi.

The PNB Women Welfare Association, also known as PNB Prerna, constitutes spouses of MD and CEO, EDs, CVO, CGMs and GMs as well as working members of the Bank. Its members have been organising and participating in CSR activities of the Bank including Child Welfare, Tree Plantation, Education, etc., from their own corpus funds.

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Punjab National Bank culminates IT integration of all branches of erstwhile United Bank of India

Dec 29, 2020 by Rekha Nair 0 Comments #MD & CEO of Punjab National Bank, #Shri CH.S.S. Mallikarjuna Rao

Hyderabad: Punjab National Bank (PNB), India’s leading public sector bank, has now successfully completed the IT integration of all branches of erstwhile United Bank of India. This is in continuation to the IT integration of all branches of erstwhile Oriental Bank of Commerce, undertaken in November 2020.

With this PNB has concluded the integration and migration of databases of both Banks, which brings all the customers on the common platform and enable them to transact seamlessly across Bank’s network as well as use PNB’s digital Banking platforms like Internet Banking and Mobile Banking. The entire migration has been completed without effecting any change in customers account numbers, debit cards or Net Banking credentials.

PNB has completed this migration activity with minimal disruption and now all customers will be able to enjoy an array of services on its wider network of branches, ATMs and robust digital channels.

On this accomplishment, MD & CEO of Punjab National Bank, Shri CH.S.S. Mallikarjuna Rao, said, “This is an important milestone for all of us displaying our unflinching commitment to the customers of PNB 2.0. This migration brings all our customers on a singular platform and provides opportunity for seamless engagement. We shall continue to provide state-of-the-art services to all our customers.”