Punjab National Bank’s Commitment to Corporate Social Responsibility (CSR) 2024

Pioneering Social Initiatives for a Better Tomorrow

MUMBAI (India CSR): Punjab National Bank (PNB) has always upheld its commitment to social responsibility. Although CSR provisions as per Section 135 of the Companies Act, 2013, are not applicable to PNB, the bank has a board-approved CSR policy. This policy is reviewed annually, guided by Schedule VII of the Companies Act under the Ministry of Corporate Affairs. PNB’s CSR activities are driven by a strong commitment to uplift communities and contribute to society at large.

Strengthening Communities through CSR

Farmers Training Centres (FTCs)

PNB has established 12 Farmers Training Centres (FTCs) across India. These centres provide training on agriculture and allied activities such as organic farming, fertilizer management, beekeeping, dairy farming, and more. The FTCs also offer courses on computer skills, beauty parlour management, candle and soap making, and tailoring. Equipped with mobile vans for soil testing and audio-visual displays, these centres have trained over 1.8 million individuals through 61,555 training programs since inception. In FY 2023-24 alone, PNB spent Rs. 446 lakh on these initiatives.

Rural Self Employment Training Institutes (RSETIs)

PNB operates 78 RSETIs under the Ministry of Rural Development and two Rural Development Centres. These institutes provide skill development training to rural populations, focusing on self-employment and job readiness. In FY 2023-24, 60,721 individuals received training, with a significant number from below poverty line (BPL) families and women. Since inception, these institutes have trained over 600,000 individuals, with 414,042 successfully settling into employment. PNB invested Rs. 3,857 lakh in these initiatives during the fiscal year.

Financial Literacy Centres (FLCs)

PNB’s 175 Financial Literacy Centres (FLCs) conducted numerous programs and camps from April 2023 to March 2024, reaching nearly 300,000 individuals. These programs target farmers, self-help groups, small entrepreneurs, and senior citizens, helping them with financial planning and literacy. Over 8,000 seminars and camps were conducted, making a significant impact on financial awareness and education.

“The Bank believes in growing responsibly, forging deeper relationships, and engaging meaningfully with all our stakeholders. Going forward, we will continue to support the society through active participation in programs aimed at creating a better society. We will also continue to conduct business in a sensitive and responsible manner. In the end, I want to express my sincere thanks to all our partners & members of PNB Parivaar for their whole hearted participation in CSR activities during FY23-24.” says Atul Kumar Goel, Managing Director & CEO of Punjab National Bank in Recent Annual Report.

Diverse CSR Activities

Welfare Schemes and National Initiatives

PNB’s CSR efforts extend to several welfare schemes, including the PNB VIKAS Village Adoption Scheme and socio-economic empowerment through RSETIs and FTCs. The bank also actively promotes India’s national game, hockey, with players representing the country in international tournaments.

Corporate Volunteering

PNB encourages corporate volunteering, with employees participating in various CSR activities. The ‘PALAASH’ project involved employees planting over 200,000 saplings. PNB PRERNA, an association of senior women officials and spouses of senior bank officials, also contributes significantly to CSR efforts.

Infrastructure and Health Support

PNB has supported numerous infrastructure projects for schools, hospitals, and defence stations. The bank’s CSR activities include free medical camps, blood donation camps, and donations to various charitable institutions and NGOs. Significant contributions include support for blindness control programs, educational infrastructure, and flood relief activities.

National and Community Support

PNB’s CSR initiatives also focus on national and community support. The bank has aided several aspirational districts identified by the government, contributing to socio-economic development and relief efforts. PNB’s commitment to CSR is recognized and lauded for its positive impact on communities across India.

Moving Forward

Vision for Viksit Bharat

PNB is committed to playing an active role in India’s vision of Viksit Bharat. The bank aims to extend credit support to all sectors, focusing on MSMEs, agriculture, women, and youth. PNB’s CSR strategy will continue to grow responsibly, forging deeper relationships and engaging meaningfully with stakeholders.

Sustainable Community Development

PNB’s CSR activities are designed to create and sustain vibrant communities. The bank’s investments in institutions and programs support and enhance community development sustainably. Going forward, PNB will continue to support society through active participation in programs aimed at creating a better society and conducting business responsibly.

Here are five tables highlighting key facts about Punjab National Bank’s CSR initiatives:

Table 1: Overview of Financials

Table 2: Farmers Training Centres (FTCs)

Table 3: Rural Self Employment Training Institutes (RSETIs)

Table 4: Financial Literacy Centres (FLCs)

Table 5: CSR Projects in Aspirational Districts (FY 2023-24)

(India CSR)