PNB Unveils PNB GST Sahay App For Instant MSME Loans Via GST Invoices

Punjab National Bank (PNB) has launched a GST Sahay App, an end–to–end digital product under which lending can be done on the basis of GST invoices.

This app can simplify the entire loan process by digitizing it. This helps eliminate any sort of manual intervention for the borrowers and makes the process much more cost-effective, quick, and smooth. Through this service, the loan amount will be directly credited into the borrower’s current account maintained with the bank.

All GST-registered MSME business entities (proprietors) having an active account with PNB are eligible for the PNB GST Sahay service. The credit limit starts from Rs 10,000 and goes up to Rs 2 lakhs per invoice, subject to a cap of Rs 10 lakhs per borrower. PNB GST Sahay also makes loan repayments a one-time, hassle-free process for MSMEs by offering the option of pre-payment.

Atul Kumar Goel, MD & CEO, PNB, said, “Rapid fintech growth is redefining the way we do banking. Newer types of credit facilities are being offered to customers through a number of emerging digital solutions. With the help of technology, several issues of assessment, market report, and appraisal concerns can now be answered in a few clicks, thereby eliminating any bottlenecks. We, at PNB, too, are working towards digitising our credit journey to the maximum possible extent by employing the latest available technological advancements. Our bank has been a pioneer in serving the top industrialists as well as serving the masses and providing small loans to the non-corporate/farm and non-farm to MSMEs. I am confident that the PNB GST Sahay App will bridge the distance between the applicant/borrower and the Bank. It will boost our efforts to integrate and provide the best credit solutions to this important sector of our economy in a seamless manner.”