Punjab National Bank has started a countrywide drive to attract more retail customers and increase its low cost funds acquisition. The campaign, called the ‘PNB Saving Bank Campaign', has been launched for a period of two months with the savings fund collection target of Rs 1,00,000 crore.
On this matter, the executive director of Punjab National Bank, Ms. Usha Ananthasubramanian said that the aim of the drive was to accelerate growth in the current and savings account deposits of the bank and improve its customer service quality by providing the employees with a sense of ownership.
Current accounts and savings account (CASA) form a source of low cost funds for the banks as no interest is required to be paid on current accounts and savings accounts attract low interest rates. The public sector bank has planned to add 10 million more customers and grow its customer base to 80 million from 70 million.
To encourage its employees to perform better, the bank has planned special rewards for employees who take part in the campaign and bring in 10 customer accounts.