Punjab National Bank is expanding financial inclusion through its digital lending initiatives, including PNB Shram Saathi and the PM e-Svanidhi Scheme, offering collateral-free loans to frontline workers and street vendors.
Punjab National Bank (PNB) has reaffirmed its commitment to advancing financial inclusion through digital banking by expanding access to formal credit for frontline workers, community service providers and street vendors.
On the occasion of Digital India Day, the public sector lender highlighted its customer-centric digital lending initiatives, including PNB Shram Saathi and the PM e-Svanidhi Scheme, aimed at making affordable, collateral-free credit more accessible through digital channels.
PNB Shram Saathi targets frontline workers
PNB Shram Saathi has been designed to provide personal loans to community-based and frontline workers employed by Central and State Government departments or government-supported agencies.
The scheme covers Anganwadi workers, ASHA workers, sanitation workers, mid-day meal cooks, forest workers and several other essential service providers.
Eligible customers can avail collateral-free loans ranging from ₹10,000 to ₹1 lakh, with no processing charges and a repayment tenure of up to 36 months, enabling them to meet their personal financial requirements.
Digital credit for street vendors
PNB is also strengthening financial inclusion through its continued support for the PM e-Svanidhi Scheme, which offers collateral-free working capital loans to street vendors while encouraging digital payments through UPI-enabled credit facilities.
Under the scheme, eligible beneficiaries can access progressive loan tranches ranging from ₹5,000 to ₹50,000. Timely repayment allows borrowers to qualify for higher credit limits, while eligible loans attract nil margin and processing charges.
The bank said the initiative helps street vendors formalise their businesses, adopt digital payment systems and build long-term financial resilience.
Bank reinforces digital inclusion strategy
Punjab National Bank General Manager, Digital Banking Transformation Division, Debasish Gangopadhyay, said, “Digital India is not just about technology, it is about making financial services more accessible, inclusive and empowering for every citizen. At PNB, we are committed to leveraging digital banking to bridge financial gaps and extend formal credit to communities that play a vital role in India’s growth.”
He added, “Through initiatives such as PNB Shram Saathi and PM e-Svanidhi, we are enabling greater financial inclusion while supporting the nation’s vision of a digitally empowered society.”
Focus on inclusive growth
PNB said it remains committed to leveraging digital innovation to expand access to formal financial services across underserved segments of society.
The bank said its digital lending initiatives are aimed at supporting frontline workers, small entrepreneurs and other underserved communities, while contributing to India’s broader agenda of inclusive economic growth and digital empowerment.