Punjab National Bank launches ‘LenS’ Solution to speed up loan delivery
- India’s one of the leading public sector Punjab National Bank (PNB) has launched a tech-based loan management solution called ‘LenS-The Lending Solution’, to speed up online loan processing and sanctioning of credit proposals as well as maintain accuracy.
- Key objective of PNB LenS-The Lending Solution
- Standardise the system, process and appraisal formats for loan processing
- Speed up the process of credit sanctions
- Auto-generate loan documents, among others.
- This system will be implemented in a phased manner for all kinds of loans including MSME, agriculture, retail and other credit.
- The LenS system will be now used for processing and sanction of credit proposals up to Rs 10 lakh under the Mudra scheme, including MSME loans (fresh, renewal, enhancement and review with effect from December 1, 2020.
Points to Remember:
- ‘LenS-The Lending Solution’ is a loan management system launched by which bank?
- Headquarter of PNB? New Delhi
Source: Financial Express