January 30, 2011

Punjab National Bank to help doctors become entrepreneurs

Punjab National Bank (PNB) has decided to set up a dedicated desk at its subsidiary — PNB Investment Services — to provide end-to-end advisory solutions for doctors who aspire to become entrepreneurs and are keen to set up hospital network across the country.

“This desk at PNB Investment Services will act as a single-stop service provider and facilitate all requirements of doctors, including preparation of detailed project reports,” Mr K.R. Kamath, Chairman and Managing Director of the bank, said here.

While there is lot of interest among medical professionals to become entrepreneurs and set up hospitals or clinics, their awareness of the banking related procedures for raising finance are not up to the mark. They are being compelled to take the services of consultants for preparation of project reports and this comes at a high cost.

PNB Investment Services will now provide these services at a lower price, Mr Kamath said.

He also said that that PNB would look at coming up with a doorstep banking model suited for doctors. PNB is already into doorstep banking, but at the wholesale level.

“We will have to come up with a tailor-made model for doctors. This can be done within the overall framework provided by RBI for doorstep banking,” Mr Kamath told Business Line.

Link: Original Article

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