PNB's New Strategy for Enhanced Customer Service and Lending

NEW DELHI: Punjab National Bank (PNB), India's second-largest public sector lender, is embarking on a transformative journey to elevate customer service and amplify its focus on retail, agriculture, and MSME lending. Under the leadership of new MD and CEO Ashok Chandra, PNB is setting ambitious targets to redefine its corporate loan portfolio for higher returns.

Innovative Feedback System to Boost Customer Service

Chandra, who assumed his role in January, is pioneering a QR code-based feedback system for all customer-facing employees, mandating at least 50 reviews per staff member annually. "Enhancing customer service is our paramount priority, with feedback directly influencing annual employee assessments," Chandra emphasized. This initiative, slated for a May rollout, mirrors Chandra's successful implementation at Canara Bank.

Strengthening Deposit Flow Through Superior Service

Chandra advocates for PNB to become the primary bank for retail customers, leveraging improved service to attract deposits. A key focus is reversing the decline in CASA balances, which dipped to 38% in December from 42.5% the previous year.

Selective Corporate Lending for Optimal Returns

While engaging with top-tier corporations, PNB adopts a selective lending approach, prioritizing profitability. "Our strategy involves meticulous opportunity assessment and competitive pricing to enhance our operating profit standing," Chandra stated.

Field-Driven Recovery Efforts

Chandra is mobilizing head office personnel to the field to accelerate lending and recovery processes. "While managing slippages, our focus is intensifying bad debt recovery and exploring one-time loan settlements," he added.