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PNB launching online portal named “Trade Finance Redefined” for exporters

PNB launching online portal named “Trade Finance Redefined” for exporters (1)
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New Delhi: The Punjab National Bank has organized an Exporters Meet recently at ITC Maurya, New Delhi. The meeting was presided over by Shri. CH. S. S. Mallikarjuna Rao – MD and CEO of Punjab National Bank, in the presence of Shri. Swarup Kumar Saha – Executive Director of the Bank. Smt. Vibha Aren, General Manager of International Banking Division, Corporate General Managers, and other senior officials from the Bank’s Delhi zone, also attended.

Shri. CH. S. S. Mallikarjuna Rao contemplated the prosperous amalgamation of the erstwhile Oriental Bank of Commerce and erstwhile United Bank of India with Punjab National Bank. He further talked over the organizational structure changes, concentrating on crucial segments’ verticalization, such as risk management, credit underwriting, and forex operations to enhance services. More than 65 leading exporters from the Delhi NCR region attended the event.

During the meet, PNB openly declared new initiatives for the exporters, such as launching an online portal named “Trade Finance Redefined” and “Video Conference with Executives”.The portal has an extraordinary feature of 24/7 availability for submission of export documents directly to the trade finance center, thus speeding up processes and enhancing turnaround time.

The Bank has also risen its forex trade processing centers to four metros – Delhi, Mumbai, Kolkata, and Chennai, from the earlier two centers. Competitive pricing and centralization of the forex activities would deliver ease of doing business for the Indian exporters.

The event was followed by an actively interactive session wherein the exporter clients admired how amalgamation had been dealt with and the Bank’s uninterrupted services amid Covid -19 pandemic. Various other channel financing recommendations, tracking export proposals, convertibility of fund-based and non-fund-based limits to the exporters were also pertained to.

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Written by Ritik Gupta

His name is Ritik Gupta; currently pursuing law. He has always kept pride as his everything. He deems writing as not like any other hobby but a reflection of one’s intellectuality. He likes to research on the parasitic problems and then lay them down in such a means that can be of assistance to the society. He just not studies law but treats it a controversial weapon to defeat the wrong.

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