Financial Services Minister M Nagaraju | Photo credit:
Public sector banks have become stronger and more resilient, with credit growth outperforming their private sector peers in the recent past, Financial Services Minister M. Nagaraju said.
This reflects the growing robustness of the banking community, with significant improvements in due diligence, credit underwriting standards and project loan monitoring mechanisms, he said while inaugurating the MSME Sports Cluster Branch of Punjab & Sind Bank at Football Chowk, Jalandhar.
“Today, customers are returning to public sector banks due to their renewed focus on efficiency, transparency and trust,” he pointed out.
Call to support MSMEs and startups
Nagaraju also urged all banks to continue providing more support to MSMEs and startups – the real drivers of India’s economic growth.
“At the same time, we must ensure that every customer is treated with dignity and respect, and that our digital and service journeys remain seamless, resilient and inclusive,” he said.
Expansion of Punjab & Sind Bank
The event also saw the launch of specialized industry initiatives, including the SheRise Branch (operated only by women employees), MSME Edge, Agri Hub Branches and a Startup Branch at Sector 44, Gurugram, designed to provide sector-specific financial solutions and drive inclusive growth, Punjab & Sind Bank said in a statement on Tuesday.
Focus on collaboration and innovation
In his address, Swarup Kumar Saha, MD and CEO, Punjab & Sind Bank, said Jalandhar’s sports industry is an inspiration for MSME-led development, innovation and global competitiveness.
“The establishment of these specialized facilities reflects our commitment to inclusive, sector-driven growth. Such initiatives will not only empower entrepreneurs but also generate employment and increase India’s manufacturing potential,” he said.
He further highlighted the bank’s collaboration with leading institutions such as ISB Mohali, PAU Ludhiana and IIM Amritsar aimed at promoting vendor incubation, futuristic agriculture and startup incubation for MSMEs and entrepreneurs.
Published on October 15, 2025
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