Moderator: Good afternoon, everyone. My name is Ganesh Shankanawar, the moderator for
today's earnings call. I welcome and thank each one of you for joining us today for the Punjab & Sind
Bank earnings call for Q2 FY27.
Please note that this conference is being recorded and all participant lines will be in the listen only
mode. There will be an opportunity for you to ask questions after the opening remarks by the
management. Should you need any assistance during the conference call, please raise your hand on
the WebEx panel or press *3# on your phone.
I would now like to introduce the management of Punjab & Sind Bank. We have with us today, Shri
Swarup Kumar Saha, Managing Director and Chief Executive Officer, Shri Ravi Mehra, Executive
Director, Shri Rajeeva, Executive Director & Shri Arnab Goswamy, Chief Financial Officer.
I would now like to hand over the conference to Shri Swarup Kumar Saha, MD & CEO of the Punjab
& Sind Bank for the opening remarks after which, we will have the forum open for the interactive Q
& A session.
Thank you and over to you Sir.
Mr. Swarup Kumar Saha: Yeah, thank you Mr. Ganesh. Good morning to all of you and welcome to
this Q2 earnings call of Punjab & Sind Bank.
Thank you for joining us. The Board of the bank has approved the reviewed results of the Bank as of
September 2026 and the necessary results were uploaded on the stock exchanges along with the
presentation. All of you must have already had the opportunity to go through the presentation. So
just to set the context, I would like to present some of the highlights of the bank's performance for
the September 2026 quarter.
Overall business grew by over 15.73% and stood at Rs.2,79,231 crores, while deposits grew at
12.97% and the total deposit was at Rs.1,53,312 crores. Advances grew at a healthy rate of 19.28%
and it stood at Rs.1,25,919 crores.
So the bank continues to grow in terms of the business mix over 15% consistently over the last few
quarters. The CD ratio of the bank was at 82.13%. Going forward, as per our guidance, we expect
deposits to grow at between 13% to 14% and advances to grow at 18% to 20 %. So overall we expect
that the CD ratio will be around 82 % over the next two quarters.
Though CASA has grown at 7.5% YoY, its share has gone down. We know the challenges in
maintaining CASA. We are making a lot of efforts. However, the ratio has slipped slightly to 28.83%.
The focus of the bank's advances, of course, has been RAM, as we have been saying all along, and
overall RAM advances have grown by over 31% and the share of RAM advances to the overall gross
advances is now at 61.37%. As we have said earlier, our guidance is that the RAM advances
percentage could be around 65% for the current year, and we will take it up to 70% by March 2028
(FY 2027-28). So we are on track, if you compare September-to-September numbers, you will find
that the RAM percentage has gone from 55.15% to 61.37%. So we'll continue to work in that area.
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In some of the other areas on the business side, of course the growth has been evenly balanced
between retail, agri and MSME. Retail has grown at 42%, Agri at 16%, MSME at 28.69 %. In terms of
profitability & income, the healthy part of the Q2 result was that the net interest income has grown
by 22%. I think that's a healthy sign which is going to take the bank forward to improve its margins,
profitability, ROAs etc. The operating profit of the Bank has increased by 22% YoY, and it was at
Rs.617 crores in Q2. The net profit has also increased at nearly 40% and stood at Rs.412 crores. So,
we are seeing a slow and steady increase in our quarterly operating and net profits. This has been
of course helped by a good 23.6% growth in the core fee income. We continue to monitor that, we
continue to put a lot of strategies in improving our core fee income on the various products that we
have, whether it is non fund business, whether it is cross-selling of third-party products, whether it
is other service charges and we find that it is showing a good traction QoQ over the last few quarters.
So, we'll continue to work on that. Of course, in view of the geopolitical situation and the hardening
of yields, the treasury performance has been muted. In spite of that, our operating profit has
increased by 22% to Rs.617 crores. In spite of comparatively lower recovery in written-off accounts
compared to the previous quarter, we continue to show traction in the operating profits. This shows
that the bank is slowly, but steadily trying to generate operating income through its core business,
that is, deposits, advances and other areas, and not totally depend on the market orientations of
the movement in the yields.
The asset quality has also improved, our gross NPA is at 2.09 %, Net NPA continues to improve at
0.61%. PCR has also improved. Our capital adequacy also stands at 16.55%, with CET-1 at 15.49%.
In terms of some of the efficiency ratios, our net interest margin has improved by 17 bps YoY to
2.77%. Return on assets has increased to 0.88% and return on equity has also increased to 13.21%.
The cost-to-income ratio has also marginally declined in Q2, and we will continue to monitor that
ratio in a big way by increasing our income overall. So, these were some of the highlights in terms
of the guidance. We feel that the bank’s overall trajectory, as I said, would be focused on improving
our deposit growth and our CASA percentage. We have made a lot of efforts in terms of various
products, and we continue to focus on that. A lot of outreach programs are being carried out. We’ll
be doing special campaigns for deposit mobilization.
We continue to expect the gross NPA to be below 2% by the end of March. Net NPA, we have given
a guidance of 0.65%, we are already at 0.61%. We’ll now continue to reduce it further. On recovery
and upgradation, we have given a guidance of Rs.1,000 crores plus. We have already reached Rs.622
crores. So, we are on track in all our guidance areas & a lot of other transformational projects that
we have been talking about are implemented. These are present in the slides. I would not like to
repeat them.
Therefore, we feel that the bank is now consistently performing and delivering on the various
expectations that we had raised in the previous calls that we had. The bank continues to work on
various other transformation projects like digital transformation, on collection efficiency, recovery
management, our GIFT City branch is now just around the corner. It should be live and kicking
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around November end. We are also more or less ready with the forex trade module, which should
kick-in during this Q3.
So therefore, most of the projects that we have been talking about are nearing completion, and we
expect that the returns on those investments will be coming very soon. So that’s all from my side
for the time being. We’ll now be happy to take questions.
Moderator: Thank you, sir. We will now begin the Q&A session. First question is from Sushil sir.
Sushil sir, please go ahead.
Mr. Sushil Choksey: Congratulations team PSB for the excellent results and guidance revision on an
upward trajectory which speaks for India growth story.
Sir, you’ve taken a lot of Herculean tasks over a period of your tenure and the team’s tenure to
enhance the visibility of Punjab & Sind Bank in corporate and RAM. So, what makes you tick the
upward guidance specifically on all parameters which leads to a betterment of bank?
Second thing, to strengthen the same, what kind of initiatives have been taken for enhancement in
credit with digital road map, human resource, branch expansion, bringing more efficiency? Third
thing, the RAM breakup, if you could give whether it is more number of customers or ticket size per
SUV or a car or housing loan have increased quarter-on-quarter. Last is about treasury outlook?
Mr. Swarup Kumar Saha: Yeah, thank you, Mr. Choksey. Yeah, as we go along during the financial
year and as we continue to consistently perform, it gives us room to improve our guidance on
various factors. So therefore, we feel that in terms of the overall business, we continue to retain the
guidance and move ahead. In fact, in terms of some of the other guidance areas like gross and net
NPA, I think we should be much beyond the numbers that we have already set our goals for and this
has primarily been enabled by the various systemic platforms and enablement’s that, as you rightly
said, we have been trying to build in, which allow the bank to perform in a much more efficient
manner.
The idea was that the bank should become the most efficient bank in the country, and therefore, to
build the most efficient bank in the country, we had to build a lot of structures, a lot of processes
had to be redefined, a lot of products had to be customized, and a lot of team building and teamwork
had to be inculcated amongst the workforce.
So therefore, all that we have been doing for the last few years are now slowly and steadily yielding
results. The teams are now much more goal-oriented. The teams have much more enablers,
particularly the branches. The field functionaries are having much more enablers to perform. For
example, I’d like to tell you that on the digital platform that we have built so far in terms of the 12
products that we now provide in a single QR code, 50% plus of our vehicle loans are done through
our digital platform. More than 40% of our housing loans are either done through the digital
platform, through an STP (straight-through processing) process, or through the assisted journey.
This frees up a lot of energy, a lot of manual intervention in our assessment. We are now building
up on the gold loan. Earlier we did it for up to Rs.2.5 lakhs, now we have opened it up to Rs.50 lakhs.
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We have brought in commercial vehicle loans, we have brought in personal loans, we have brought
in loan against mutual funds.
So, these are some of the digital transformations that are happening. To top it all, we have now
engaged a global consultant to do a holistic digital transformation, both on the asset and on the
liability side. So, whatever we have been doing so far in isolation on the digital part, we’ll now bring
together through overall digital transformation 2.0. We’ll have the best of the mobile app, mobile
enablers, so that reaching out to our customers becomes much more efficient.
So therefore, in terms of the various parameters, we have been able to build in the structures, some
of them are still a work in progress, and once they also get crystallized, I think it will be a great boon
to the bank’s future. In fact, if you talk on the capacity part also, the bank has put in a lot of
transformation initiatives in the capacity building of the team, both at head office and in the field
functionaries. They have now been exposed to more and more state-of-the-art trainings that are
required to improve their capacity. So, we have also done an HR transformation in the last two
years, and we continue to do that, build upon that. And as you said, regarding the branch expansion,
etc., we are opening branches.
We have identified the top 200 districts which account for 80% of the country’s banking business.
We are expanding them to those areas where we are not present so far. We have already found out
300 potential centres. The branches will get opened as the premises get finalized, as we appoint
more and more workforce at various levels. We are doing a lot of recruitments at the LBO level, PO
level, at the CSA level. So, all these things will fructify and give the bank results. So overall, we feel
that the bank’s trajectory on the guidance part would be with an upward bias and I feel that we’ll
be able to maintain that. Finally, on the treasury, yes, we are, of course, a bit constrained. The entire
banking system is going through this rough patch on the treasury front. Therefore, we have to wait
and watch the developments that happen on the geopolitical side. RBI has already started the
reverse cycle on the repo rate. We expect that some more corrections will happen on the repo rate
on the upward side. So therefore, we will be monitoring that part. The yields have hardened overall,
but on the other side, the NIMs will get a bit positively impacted. This is in view of the rate hikes —
the 25 bps that has already been done and some more which may be in the offing in the next cycle.
So overall, we expect that the margins may improve.
Mr. Sushil Choksey: Sir, your margin uptick led by the current hike and estimated hike in second
half, as your retail products will have a transmission. At the same time, what is the visibility on
corporate book and sir, you were maybe one of the last, at the fag-end, as far as technology
upgradation is concerned. So, you’ve got the better visibility and a better technology compared to
peers because it’s an experienced product, matured product. Now keeping the transformation
journey ahead and in the current scenario, what kind of digital spend are you doing and what kind
of human resource spend you will do to enhance the capability of the bank?
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Mr. Swarup Kumar Saha: Yeah, as you rightly remarked that we have started a bit late in terms of
various projects that we have undergone, and that has also helped us to imbibe the best of the
technology.
Whether we start from the core banking upgradation, or whether we talk on cybersecurity,
collections efficiency, trade finance modules, every area. Now, we are bringing those products like
supply chain finance. You must have seen in the presentations, we are bringing the collections
management solutions, both payment and collections for corporate and government organizations.
So, all these are part of the transformation exercise, and I think we have a late-starter advantage; a
late-mover advantage also sometimes helps the bank, and we’ll continue to do that.
On the corporate credit side, we already have a pipeline of around Rs.12,000 crores, and in-principle
sanctions of around Rs.8,000 crores to Rs.9,000 crores. So overall around Rs.20,000 crores of
pipeline we have already created, and we’ll be selective in our approach, working on the pricing in
a much more professional and competitive way, so that we don’t lose out on our margins as such.
So, we have a healthy pipeline being created. This corporate credit pipeline was minimal maybe one
or two years back, when we hardly had any pipeline. Now that has been built up over a period of
time to around Rs.20,000 crores. So that’s the area we are working on. Of course, on the HR, as I
said, capacity building, HR transformation, HR interventions, on performance management culture,
on target setting, whatever the various components of our transformation, have all been now
implemented in the bank.
Again, on HR, I’d like to say that compared with many other banks which have implemented these,
we have gone a bit beyond and could extract a bit more in terms of the transformation area. So, I
think overall, the bank is in the pivot of now reaching a Rs.3 lakh crore business by the end of this
financial year and Rs.4 lakh crore by the end of FY ’29. The guidance on that part also remains intact.
We may reach the Rs.4 lakh crore business much ahead of our aspirational target of March ’29 if we
continue to move in this direction.
Mr. Sushil Choksey: So, any visibility on supply chain and co-lending?
Mr. Swarup Kumar Saha: Yeah, so supply chain, we have just entered the system now. I think we
have built the system now, we are live and ticking with two, three corporates already. Now, having
tested the waters, so as to say, on this area, we’d like to open it up to the various other opportunities
that we have. We’ll continue to work on that and again, this is a state-of-the-art system that we
have now implemented.
Secondly, on co-lending, as you all know regarding the CLM-1 and CLM-2 issues, we are building the
systems. The co-lending as of now seems to have slowed down a bit. Until and unless we do the
integration in a proper manner keeping in mind the implementation of the RBI guidelines is of the
highest priority.
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So, we have to be very sure while we are building the systems, but it has slowed down a bit. But
once we build it up and to the satisfaction of the regulator, I think then we can really push it harder
on that front. Maybe another one or two months for that integration to happen.
Mr. Sushil Choksey: So, thank you for answering all my questions; I will come back in the queue.
Best of luck for the current year.
Mr. Swarup Kumar Saha: Thank you, Mr. Choksey.
Moderator: Next question, we have from Amansingh Sahajsinghani. Please go ahead, sir.
Mr. Amansingh Sahajsinghani: Hi sir. Thank you for the opportunity. So, I wanted to ask two broad
level questions. Firstly, there has been a chatter on PSB consolidation again. So, if you would like to
offer any comment on that.
Mr. Swarup Kumar Saha: Yeah, so I don’t think we have anything to comment at this point of time.
We are not aware or not privy to any information on this matter. So, it’s not proper for me to
comment also. As of now, there is no such input that has come to us. That much only I can say.
Mr. Amansingh Sahajsinghani: Sir, last year in budget, Finance Minister announced the formation
of high-level committee for banking reform. So, is the committee formed or is it still pending?
Mr. Swarup Kumar Saha: That’s for the government to take a call. As of now, we understand it has
not been formed yet.
Mr. Amansingh Sahajsinghani: Okay. Secondly, on ECL, so if you can help me with two things. Firstly,
on the ECL transition impact for the bank, since the ECL transition is around the corner, and the
bank’s preparedness might be at a good level, what is the transition impact, and how will it impact
the steady-state credit cost starting FY ’28 for the bank?
Mr. Swarup Kumar Saha: Yeah, our CRO, Mr. Dheeraj, will be taking this question.
Mr. Dheeraj Kumar Gaur: Yeah, Mr. Aman, good afternoon. Regarding ECL, we are yet to finalize
those numbers. We are at the almost final stage. We are expecting that around 5% on the total net
worth will be the additional impact, like when I’m looking for total impact perspective, so around
Rs.700 crore we are expecting. Further, since glide path is available, net impact on CRAR
computation will be almost negligible.
One important point is that with ECL, there is some RWA level changes also. Those changes will also
be coming into effect from 1st April 2027. So, net impact on CRAR will be quite minimal actually, not
very much. To answer your second question, impact on credit cost from the subsequent years, what
we are expecting is that overall provisioning requirement will be somewhere between 0.5% to 0.6%
only, i.e., 50 to 60 basis points, and it largely depends on how we manage our Stage 2 portfolio.
So, we are conscious of that Stage 2 needs to be managed properly and we expect that the total
additional provisioning requirement will be ranging between 0.5% to 0.6%.
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Mr. Swarup Kumar Saha: I’d like to add one information here beyond what Mr. Dheeraj said is that
we are working very strongly on the collections and at one point of time, our SMA percentage on a
whole was beyond 9%. I think the bank has developed a lot of strong measures, systems, processes,
and now the overall SMA has gone down to below 4%. We’d like to bring it down to below 2% very
shortly. With that happening, I think we are also implementing the new collection efficiency module,
which will give again a state-of-the-art infrastructure to our people or workforce so that they can
manage their SMAs in a much better way.
We expect that we can bring down the SMA to between 2% to 2.5% in a short span of time. Once
that happens, I think the overall run rate on the ECL provisions going forward will be much healthier,
much better.
Mr. Amansingh Sahajsinghani: All right, sir, got it. Sir, just for one follow-up with Dheeraj, sir. So
the 5% net worth impact, is it including the MTM hit on HTM investments because one of the peer
PSU Bank highlighted that, with the ECL, the banks also need to mark-to-market their HTM
investments, which could be a big hit, given the rising yields in the current scenario. So, is it including
that or ex of that?
Mr. Dheeraj Kumar Gaur: Yeah, at this point of time, around 5%, which you are saying, that includes
all those things. If an adverse movement in yields has some additional impact, that remains to be
seen, depending on how it finally pans out when actual implementation takes place. But as of now,
it is including everything.
Mr. Amansingh Sahajsinghani: So, this is including the MTM on HTM investments, right?
Mr. Dheeraj Kumar Gaur: Yeah
Mr. Amansingh Sahajsinghani: Sir, on the steady-state credit cost, you said 50 to 60 basis points
would be the steady-state credit cost in the ECL framework. Can you highlight what would be this
for the SMA 1 plus 2, the portion which comes under standard assets right now?
Mr. Dheeraj Kumar Gaur: Aman, at this point of time, I do not have that number readily available.
Mr. Swarup Kumar Saha: Yeah, so I think you can share it separately.
Moderator: Thank you Sir. Next question we have from Ashok Ajmera. Ashok sir, kindly go ahead.
Mr. Ashok Ajmera: Hello?
Mr. Swarup Kumar Saha: Hello, good morning.
Mr. Ashok Ajmera: Yes, sir, good morning. I missed most of this call because I am traveling, I am a
little away, so I might have missed some of your answers. I have nothing much to add except that
to compliment you all for the good set of numbers.
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Just one thing: off late, we have also been increasing our good corporate book. Our underwriting
standards have also gone up substantially, and the yield also in the corporate book is a little higher
than the retail, the housing loan, and other things.
So, going forward, do we plan to change the ratio between the corporate and the RAM book?
How active are we in mid-sized corporates? Because a lot of opportunity emerges in that particular
book, so what are your views on that? Are we really active on that, or are we a little passive? And
going forward, what are our plans on that, sir?
Mr. Swarup Kumar Saha: Yeah, thank you, Ajmera ji, for your compliments. As far as the ratio
between the RAM and the corporate book, I think overall, the bank’s strategy would be to increase
the RAM percentage further and further. We are at 61% plus now. We should be at 65% by March
’27 and jack it up to around 70% by March ’28, that’s the overall trajectory.
Notwithstanding this strategy, within the corporate book, we’ll continue to explore some good
opportunities to invest in terms of assets & of course, the main idea would be not only the return
on money but also our pricing will be an important component of our decision.
So, while the trajectory would be to reduce the corporate percentage, the churning within the
corporate portfolio will continue to happen based on our pricing appetite. Therefore, I think the
mid-segments, the MSMEs we’ll continue to support, provided of course we get that pricing
competitiveness. So, the approach would be on this area in that way.
Mr. Ashok Ajmera: Okay, sir, point well taken, sir. Sir, on this ECL front, the impact, and especially
on the treasury book, some of the impact is going to come on the HTM also. And I think the capital
adequacy, though comfortable, is not to that extent.
Going forward, do you plan to raise further capital, or do you feel the proportion is right even with
a CD ratio of, I think, 81%–82%? Are you comfortable going forward with the same credit targets, I
mean, for loans?
Mr. Swarup Kumar Saha: Yeah, so, we feel that the optimum CD ratio of 82% to 83% is doable for
us. We still feel that we can grow at 18% to 20% on advances and back it up with a deposit growth
of 13% to 14%. As you observed regarding the bank’s capital adequacy, as we grow in the RAM
segment, the risk weights are higher in the RAM segment.
So overall, you will find a shift in the capital adequacy this quarter in view of the Rs.7,000 crores of
additional funding that we have done. So, we have the necessary approvals for capital raising, and
we have already interacted with investors.
We have appointed merchant bankers for the same and we would just like the right opportunity to
go to the market and raise some funds. So, we are exploring all the avenues to raise capital, primarily
through the QIP route and we’ll see when the opportunity arises based on the feedback that the
merchant bankers give us.
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Mr. Ashok Ajmera: Yeah, but I don’t think this is the right time, looking at the market conditions.
But anyway, I mean, your plans are already there.
Sir, on the recovery front, and especially from the written-off book and otherwise also, I think we
are putting a lot of efforts. So, what is our total outstanding book on the written-off book, and how
much percentage of that recovery every year or every quarter you would see to come in? And what
kind of efforts we are putting in?
Coupled with that, on the technology front also, our bank has upgraded tremendously in last two
years. You have done a great work in the technology front also. So how many journeys are still
pending and what is the road map ahead on the technology development, sir, in the bank? And what
kind of budgets have we sanctioned?
Mr. Rajeeva: Recovery has been under our focus, and that has resulted into both the ratios GNPA
and net NPA going down.
Now, to answer your questions specifically on TWO (technically written-off accounts), we continue
to hold almost Rs.7,344 crores of TWO book and if you look at the results over last few years, we
have been recovering around approximately 10% of the book. This year also, so far the recovery has
been almost Rs.250 crores, to be precise Rs.247.88 crores and we will continue to focus on the TWO,
and hopefully we should be able to repeat our performance of the last year.
Mr. Swarup Kumar Saha: Yeah, and to add to what Mr. Rajeeva said is that, as you talked of
technology, I’d like to add here, on the recovery front also, we are implementing, that’s a work in
progress, on having the best of the recovery management tool in the bank where the purchase order
has been issued to the selected vendor. They will implement in around six to nine months’ time. The
first phase will be done by March, the second phase another three to four months.
So again, as I talked earlier regarding various technology tools, we have implemented we have
already implemented the collection tool. The recovery tool is under implementation, and we are
investing heavily in that area.
I request Mehra ji to talk on the digital side, on the assets that we are doing.
Mr. Ravi Mehra: Yeah. With regard to the digital side of assets, we are working on different
products. Multiple products have already been launched and almost 12 products are available as of
now in single QR code.
I’d just like to mention one thing that since the inception of our digital journey, from 4th of
November 2024, we have sourced approximately 40,000 proposals digitally to a tune of
approximately Rs.8,000 crore & the sanction rate is really wonderful. It’s around 50% in vehicle loan
and 40% in home loans. The sourcing is also very strong, and we are also working on the rural region.
We have recently enhanced the MSME digital lending to Rs.3 crore. Earlier it was Rs.1 crore, and
even the gold loan has also been enhanced to Rs.50 lakh.
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Mr. Ashok Ajmera: What kind of budget do we have for this FY26-FY27 and maybe going forward
on the technology?
Secondly, so many new things coming, and especially in the cybercrime space. Now with the DPDP,
new act coming in, and there are various other modules which are available in the market, and banks
also have to prepare themselves for the various problems they are facing on the digital front,
especially on the cyber front. What is your outlook there, sir and what kind of preparations are we
doing to be fully compliant with the DPDP Act and the various other measures being announced by
the Reserve Bank of India?
Mr. Swarup Kumar Saha: Yeah, so see, these are regulatory measures, and the bank has to prepare
itself — all banks, not only us. All banks have to prepare themselves on the various expectations on
that, whether it is under DPDP Act or whether it is under the cybersecurity. These are zero-tolerance
areas. So, we have to implement, and we are in the process of implementation, and our teams are
working in tandem with the requirements.
In terms of cybersecurity also, we are upgrading our cybersecurity postures. This would have
happened a few months back, but in view of some of the complications that happened in the earlier
process, our cybersecurity upgradation got a bit delayed, which can happen in any organization. We
are now very close to doing that. Maybe in this quarter, we’ll be able to complete the RFP process,
appoint the new vendor and carry out the cybersecurity upgradation.
We are also working on Resilience Operations Centre which is another very important area for
implementation to make the bank resilient to the operational risk. That is a very, very strong and
important area to make the bank resilient. So, the Resilience Operations Centre is getting
implemented. By December, it will have the first phase of implementation.
By March, it will be implemented in full and we are investing quite handsomely in our IT
requirements, because we know that these are indispensable requirements. These have to be done.
It adds to the cost in future, but without them, the bank’s efficiency doesn’t reach its full potential.
So, therefore, we are investing, but we are staggering the investments in such a way that the bank
gets the total benefit out of it in the very near future. So, we can assure you all that the bank is
creating that infrastructure in a big way.
Mr. Ashok Ajmera: Yes, sir. I am sure you will do it because you are giving a lot of emphasis to the
training also, and you are definitely taking all these things very seriously and sincerely. So, all the
best to you, sir, you all, and Mr Mehra special compliments for all you.
I believe anyway we will be again in touch, and I will congratulate you for this first training in the
banking career maybe sometime in the next few months. And all the best to you all, and thank you
very much for giving me this opportunity, sir.
Mr. Swarup Kumar Saha: Thank you
Mr. Ravi Mehra: Thank you
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Moderator: Thank you, sir. Next question we have from Rakesh Shah on the Webex chat box. I’ll
read out the first question, sir.
During Q2 FY27, the bank conducted 258 financial literacy camps, reaching 3,383 participants, and
facilitated banking access for 59,897 individuals under Pradhan Mantri Jan-Dhan Yojana. What
initiatives are being taken to improve the active usage of accounts and expand financial inclusion in
underserved areas?
Mr. Swarup Kumar Saha: Yeah, Mr. Mehra will answer.
Mr. Ravi Mehra: Good afternoon. With regard to the financial inclusion and expanding the reach to
the customers for PMJDY benefits, we are increasing the number of BCs as of now & primarily
around 30th September, we have got around 3,400 BCs.
We are also increasing the number of CBCs, and we are also adding the number of products and
services to be offered on the digital machines, the hand held devices that they are carrying.
Approximately, I think 35 such services are there in the machines, and we are targeting to expand
the insurance part, particularly the PMSBY and PMJJBY products to each and every eligible borrower
eligible customer under PMJDY. With regard to the expansion of BCs and expanding the number of
products in the handheld devices, we’ll be covering the allotted targets and just like to mention that
on 30th of September, we have around 30 lakh PMJDY accounts, around 47 lakh PMSBY enrolments
and approximately 15.5 lakh of PMJJBY enrolments as well.
Mr. Swarup Kumar Saha: Yeah, and to add to what Mr. Mehra said is that we’ll be launching a PanIndia campaign on financial inclusion from 21st of this month, which will carry on up to 31st
December, wherein we’ll take all the products of the central government, state governments, and
reach out to our customers in the villages. It will be an outreach program from the bank side to the
targeted beneficiaries for financial inclusion.
Moderator: Thank you, sir. Next question from the same person – Rakesh sir.
With 590 branches in rural areas and 331 in metropolitan areas, how is the bank leveraging its rural
branch network to drive deposit mobilisation, credit growth and financial inclusion?
Mr. Swarup Kumar Saha: Yeah, we have a significant presence in rural areas, with a substantial
network there. We monitor their performance; they have their own challenges.
However, we would like to leverage this network in the rural areas, and through the BCs, through
the various digital methods that we have on various products, whether it is Mudra, MSMEs, SHGs
or KCC. These are some of the digital products that we have implemented. Deposit mobilization is
an important area. Rural branches give us healthy deposits. We continue to leverage on the network
that we already have and open more and more branches also in various areas, whether it is rural,
semi-urban areas, and capture the market wherever we can from our side.
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Moderator: Thank you, sir. As there are no further questions from the participants, we now
conclude this conference. On behalf of Punjab & Sind Bank, I thank each one of you for joining the
conference call today. You may now disconnect your lines.
Thank you. Have a good day.
Mr. Swarup Kumar Saha: Thank you very much. Thank you all.
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