Punjab National Bank comes up with PNB LenS that paces the loan delivery.

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Punjab National Bank comes up with PNB LenS that paces the loan delivery.

Punjab National Bank (PNB) India’s one of the prime public sector bank on Tuesday launched a technically equipped loan management solution called ‘LenS-The Lending Solution’, that pace and manage the accuracy in an online loan processing and authorization of credit proposals simple and secured. 

After the merger, it was most important to adapt the strict loan management solutions to carry out the activities related to loan appraisal, sanction, and documentation or related to lead capture, PNB mentioned. 

PNB started the development of the IT-based solution PNB LenS, which is The Lending Solutions for the management of the loan. “Further mentions to facilitate field functionaries in uniform and consistent appraisal methodology to make better the due diligence standards,” the PNB said.

The foremost important purpose here is to have one standard system process and appraisal formats for the processing of loans and make it simple and secured.

The system advised being implemented in a phased manner for all the different types of Loans.  To Process and sanction credit proposals up to ₹10 lakh under the Mudra scheme, including MSME loans shall be operated through LenS with effect from Dec 1, 2020, the Punjab National Bank said. 

Punjab National Bank (PNB), from December 1, has changed rules for withdrawing cash from ATMs, now the PNB account holder will be required to have an On-Time Password (OTP) for withdrawal of amounts above Rs 10,000. 

The Bank also posted a tweet through their official Twitter handle mentioning, “Save the dates! PNB 2.0 is launching OTP based cash withdrawals from 1st December 2020. Making withdrawals easy, banking easier.”

Be it a customer onboarding journey for credit purposes, banking products, simple withdrawal, or loan solutions, this platform feeds the needs of all kinds of depositors or potential customers to build solutions that are simple and secured. 

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