PNB Mobilises gold deposit under Gold Monetisation Scheme (GMS)
Smt Usha Ananthasubramanian, Managing Director & CEO and TTD Executive Officer – Dr S Sambasiva Rao IAS besides other senior officials from Bank and TTD accepted delivery of gold from TTD authorities on 18th April 2016.
2. Gold Monetization Scheme(GMS) has been formally launched by Honorable Prime Minster of India on 5th November 2015 for implementation by all schedules commercial banks. Punjab National Bank, one of the few Banks participating in GMS, was active since its launch for its implementation.
3. Punjab National Bank mobilized substantial gold deposit under Short Gold Bank Term Deposit (STGBD) for 3 years from one of the leading trusts of India – Tirumula Tirupati Devasthanam, Tirpuati (TTD) Thus Punjab National Bank is the top mobiliser of gold under GMS.
4. Bank would continue to work actively for mobilization of gold deposit under GMS.
Smt. Usha Ananthasubramanian, Managing Director & CEO of Punjab National Bank accepting delivery of gold from TTD authorities