PNB launches PNB GST Sahay App

Jammu Tawi: Punjab National Bank (PNB), nation's leading public sector bank, has launched PNB GST Sahay App, a mobile application based on the GST Sahay scheme, an end–to-end digital product under which lending can be done on the basis of GST invoices. With this integration, PNB has become the first public sector bank in facilitating frictionless credit flow to MSMEs using GST invoices. This initiative is also in line with the bank's strategy to further the development of the MSME sector and digital credit ecosystem in the country. The most significant feature of PNB GST Sahay is that the entire loan process journey is digitized. Speaking at the launch of PNB GST Sahay App, Atul Kumar Goel, MD & CEO, PNB, said, “A rapid Fintech growth is redefining the way we do banking. Newer types of credit facilities are being offered to customers through a number of emerging digital solutions. With the help of technology, several issues of assessment, market report, and appraisal concerns can now be answered in a few clicks, thereby eliminating any bottlenecks. We, at PNB, too are working towards digitising our credit journey to the maximum possible extent by employing the latest available technological advancement. Our bank has been a pioneer in serving the top industrialists as well as serving the masses and providing small loans to the non-corporate/farm and non-farm to MSMEs. I am confident that the PNB GST Sahay App will bridge the distance between the applicant/borrower and the Bank. It will boost our efforts to integrate and provide best credit solutions to this important sector of our economy in a seamless manner.”