Punjab & Sind Bank inaugurated its new MSME Sports Cluster Branch at Football Chowk, Jalandhar, reinforcing its commitment to supporting India’s vibrant MSME sector. The inauguration was led by M. Nagaraju, IAS, Secretary, Department of Financial Services (DFS), Ministry of Finance, Government of India, who attended as the Chief Guest. The ceremony also witnessed participation from Atul Kumar Goel, Chief Executive, Indian Banks’ Association, along with senior officials, entrepreneurs, and representatives from the sports industry.
Addressing the gathering, Nagaraju emphasized that public sector banks (PSBs) have shown remarkable turnaround and resilience in recent years. He noted that credit growth in PSBs has outperformed private sector banks, while Net NPAs have dropped below 0.5%, marking a historic improvement in financial health. He attributed this progress to stronger due diligence, robust credit underwriting, and enhanced monitoring of project loans. Nagaraju urged banks to further strengthen their engagement with MSMEs and startups, recognizing them as the backbone of India’s economic growth, and emphasized the need for inclusive, efficient, and transparent banking services.
Swarup Kumar Saha, Managing Director & CEO of Punjab & Sind Bank, highlighted the significance of Jalandhar’s sports manufacturing industry as a model for MSME-driven innovation and employment generation. He said the bank’s sector-focused branches aim to empower entrepreneurs, promote inclusive growth, and boost India’s manufacturing potential.
Event also marked the launch of specialized initiatives, including the SheRise Branch (entirely managed by women employees), MSME Edge, Agri Hub Branches, and a Startup Branch in Gurugram, each designed to deliver tailored financial solutions and foster entrepreneurship.
