PNB ties up with Agra traders

After strengthening its hold worldwide, the Punjab National Bank is now trying to attract exporters, fixing its export target for this year at $92 billion.

This was stated by D L Rawal, general manager, PNB, while talking to the media persons on Saturday at the two-day exporters' meet held at the Hotel Taj View in Agra.

He said Firozabad, the sister city of Agra, located barely 50 km from this town, was capable of contesting with Belgium in terms of production of glass artifacts but due to the lack of proper export related assistance and banking facilities, the industrialists of Firozabad, were unable to extend the reach of their business in the world.

To help these exporters of the twin cities of Agra and Firozabad, he said, the bank was shortly going to open an "export assistance extension counter" in Firozabad. Besides, the bank was also planning to introduce attractive incentives for exporters who provided good business to the bank.

In this connection, he said that the bank's total business from export had risen by 6.61 percent in the past year as compared to the overall business increase of other banks of the country. The bank had now set a target of earning 92 billion US dollars through export business in the current fiscal year and this was only possible if the bank attracted more and more exporters towards itself.

He said that the bank was now diversifying its business by entering the insurance sector and it shall be granted a license to operate in the Indian market soon. The bank was also seeking to establish a world-wide presence while also holding on to its 3 crore domestic customer base, protecting it from the onslaught of the Non-Banking Finance Companies.

On this occasion, Rawal presented six export houses of Agra, including Roger Exports, a major shoe exporting company of the town, with the "Niryat Bandhu" gold trophy while 12 other exporters were presented with the PNB Expo Gold Card, allowing special privileges and discounts to these exporters.