The Punjab National Bank (PNB) has introduced PNB@Ease, a digital initiative in which customers facilitate and approve all bank branch transactions. PNB said in a statement that the facility can range from opening savings accounts to applying for different loans and more, all without having to visit a branch or seeking assistance from bank employees. PNB@Ease will be rolled out across 165 established locations across India in the future, according to the bank. PNB Managing Director S S Mallikarjuna Rao revealed the specifics of the initiative, saying that PNB @Ease outlets will be configured with five Kiosks: an ATM, a Bunch Note Acceptor, an Account Opening Kiosk, a Card Issuance Kiosk, and an internet-enabled Kiosk.
Customers will be able to access all banking facilities under one roof, he added, and PNB@Ease outlets will help the bank to broaden its distribution capability thus lowering the cost of customer acquisition. PNB unveiled other digital initiatives on its 127th foundation day, including instant opening of an online savings account via video-KYC, insta pre-approved loan, insta demat account, and insurance facility via online and mobile banking. The bank also released a coffee table book commemorating its foundation day, which describes the bank's thorough journey and effective merger with the former Oriental Bank of Commerce and United Bank of India. On the occasion of 127th Foundation Day, MD & CEO CH. S. S. Mallikarjuna Rao, Sh. Debasish Panda (Senior IAS officer and Secretary, Department Of Financial Services) & Sh. Pankaj Jain, IAS, AS, DFS inaugurated the PNB@Ease outlet at Central Secretariat Metro Station, New Delhi.