PNB sets up centralised loan processing centre to improve quality of its credit

New Delhi: Punjab National Bank (PNB), India's largest nationalised bank, continues to surge ahead on its recovery path and strengthen its internal systems and processes.

Under 'Mission Parivartan', a future-facing initiative to push the bank forward on its transformation journey, many steps have been taken to position PNB as a future-ready bank.

In the esteemed presence of MD&CEO Sunil Mehta; Zonal Manager: Delhi V P Jain; General Manager (Credit) G S Gusain and General Manager Ram Kumar on Friday announced the opening of its first Centralized Loan Processing Centre (CLPC) as well as launched a new initiative called Reach In Reach Out (RIRO).

The first CLPC, which has been set up in Connaught Place, will ensure improved turn-around-time, separate Pre- and Post-sanction responsibility and enable qualitative credit assessment as well as efficient monitoring.

RIRO will serve as a unique communication tool to better engage with customers and staff.

Sunil Mehta said, "Today, we are living in an age where generalization has given way to specialization. This is visible in all walks of life. In such a scenario, the knowledge and capabilities that the 123-year-old Punjab National Bank must be decentralized to expand reach and increase customer convenience. Our first Centralized Loan Processing Centre, a brainchild of our Mission Parivartan and Credit team, is a step in the same direction. It will set the tone for similar centers across India in the future."

"During the most turbulent times, our domestic deposits have grown. Our customer confidence has not been impacted. This could not have been possible without a determined PNB team that has worked continuously to go the extra mile. Our new initiative RIRO aims to better engage with customers and staff and take this journey forward." he added.

With the launch of CLPC, Credit Operations will be performed at specialized loan processing centers. This will help the branches focus better on lead generation and enhanced customer service. Similar centers will be stablished Pan-India in a phased manner.

To ensure strict segregation of Pre- and Post-sanction roles and responsibilities for enhanced accountability in line with the Government of India's Enhanced Access and Service Excellence (EASE) program, PNB has proposed to establish Centralized Loan Processing Centers Pan-India in a phased manner for processing of Loans above Rs. 50 lakhs.

RIRO will serve as a communication tool to communicate with staff (reach in) and customers (reach out). It will facilitate uniform broadcasting of content, like a television channel, across the branches.

Content for customers may include promotion content, regulatory and customer service notifications as well as near-live broadcasting of events (like webcast). Similarly, content for staff members may include broadcasting of corporate messages, showing demos of new products and services to build awareness among staff members, remote on-location trainings as well as any urgent communication.