PNB launches loan management solution ‘LenS-The Lending Solution’

Punjab National Bank (PNB) has launched a tech-based loan management solution ‘LenS-The Lending Solution’, to speed up and maintain accuracy in online loan processing and sanctioning of credit proposals. It is envisaged to be implemented in a phased manner for all kinds of loans. Under the Mudra scheme, the processing and sanction of credit proposals up to Rs 10 lakh including Micro, Small and Medium Enterprises ( MSME) loans (fresh, renewal, enhancement and review) will be done by LenS.

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Main Purpose of PNB LenS:

  • To standardise the system, process and assess formats for credit processing
  • To auto-generate the loan documents for each type of credit facilities
  • To reduce delay, cost and human errors involved in manual processing, digital record maintenance, security & data privacy.
  • Ready to use monitoring and MIS reports for better tracking and transparency.

Important takeaways for all competitive exams:

  • PNB Headquarters: New Delhi.
  • PNB CEO: S. S. Mallikarjuna Rao.

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