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Priority Sector Lending is an important role given by the (RBI) to the banks for providing a specified portion of the bank lending to few specific sectors like agriculture and allied activities, micro and small enterprises, poor people for housing, students for education and other low income groups and weaker sections.

As per the directions of the GOI/RBI, Banks are mandated to implement comprehensive Financial Inclusion Program (Pradhan Mantri Jan Dhan Yojna) through effective utilization of Business Correspondents. Banks have already implemented PMJDY and other financial inclusion services through Business Correspondents PAN India. Sub Service Area (SSA) is a cluster of few villages and is linked to one base branch of the Bank.

Now, Punjab National Bank is in the process of providing the Micro and small Credits under the Financial Inclusion plan across the country. Our Company is shortlisted for empanelment as Corporate Business Correspondent for the purpose of deploying BC Agent/Bank Mitra in the field to source, process, deliver & manage micro & small credits in the allocated rural and urban areas across the country.

The following activities are carried out by the BC Agents in connection with Micro Lending activity:

♦  Identification of borrowers as per bank’s requirements.
♦  Collection, Preliminary scrutiny of data and submission of applications to the Bank for its review
♦  Creating awareness about savings and other products offered by the Bank, education or advice on managing money & debt counselling.
♦  Promotion, nurturing, monitoring and handholding of Self Help Groups and/or Joint Liability Groups and/or Micro Credit Groups
    and others.

The above services are in respect of the following loans to be offered at the by the BCAs:

♦   Group Loans (SHG/JLG)
♦   Affordable Housing Loans
♦   Educational Loans
♦   Consumable Loans
♦   Small Business Loans (TL/WC/OD) including Mudra
♦   PMSAVNIDHI Loans and similar other loans
♦   KCC/Agri Loans
♦   Value/Supply Chain Financing
♦   Artisans Loans, etc.