Ashok Chandra, PNB's managing director and CEO, unfurled a new youth‑oriented lineup in a New Delhi press briefing. The package bundles instant credit‑card access, a paperless loan approval funnel for startups, and a savings scheme earmarked for students. He added, “Every young person wants a credit card today, so our effort is to fulfil that.”
The move is a direct counter‑measure to private banks that have lured millennials with slick apps and aggressive relationship managers. Finance Minister Nirmala Sitharaman last month urged state banks to adopt a lifecycle model, becoming a financial partner from campus to career.
PNB posted a 13% jump in net profit to ₹5,532 crore for the September quarter, giving the bank a cushion to drive deposit and credit growth without raising deposit rates. The bank’s credit book remains resilient, with no pressure on interest rates amid the current financial year.
Chandra said the El Niño‑induced weather has not dented the loan book, citing steady demand in the north and north‑west regions. He noted, “All sectors are behaving well. Growth is happening. Stress is at its lowest levels.”
The bank plans to roll the youth package across campus and corporate branches by Q4 2025, targeting an additional 200,000 young customers. Stakeholders expect a surge in deposits and a shift in PNB’s customer demographics.