PNB holds builders meet

Excelsior Correspondent

JAMMU, Mar 3: To bridge the gap between the builders and the Bank, Punjab National Bank (PNB) organized a builders’ meet here this afternoon.

The meet was inaugurated by Ashok Gupta, Circle Head, J&K Operations.

Speaking on the occasion, Mr Gupta informed that the main purpose of the meet was to bridge the gap between the builders and the bank so as to dispel various benefits of availing housing loan from banking sector.

He said that the broad structure of the Housing loan scheme needs to be understood by the builders as well which in turn will prove beneficiary to builders, public in general and the bank.

Mr Gupta also informed that the Housing loan sector will always remain a thrust area for Bank on account of the fact that many other industries like Hardware, cement, iron, paint and furniture thrive on this segment.

The sector is also labour intensive, he added.

Mr Gupta further informed that Housing loan is offered at confessional rate of interest with additional benefits like Income Tax rebate under various sections of IT Act.

The Circle Head of the Bank said that Housing loan are now given for purchase of plots, flats, out right purchase of residential house/flats and even for furnishings.

About 20 prominent builders participated in the meet, which was followed by interactive session. Manjit Singh representing Horizon Group, Upinder Maji representing Ansal Housing, Chetan Gupta of Florence Apartments, Chandresh Sharma and Sanjay Vaid of Royal Palm, Amit Mahajan and Sumit Mahajan of Kamdhenu Apartments, Nico Demes of Dream Homes, Omkar Nath Kaul of Royal Nest, Vinay Saraf of Heritage Apartments and Vinod Kalra of Kalra and Associates took active part in the meet.

They gave their suggestions during the interactive session and the Bank representatives assured them that these suggestions will be taken care of.

Mr Gupta informed the builders that in PNB work is done with transparency within days. While Dr M D Bali Chief Manager Retail Hub Jammu said that PNB is different from other banks and there is no prepayment pendency in PNB. He said in car loan PNB has lowest rate than other banks all over India and if all formalities are complete the customer is given the cheque on the same day.

He said in case of building loan the customer is given the cheque within three to four days after completion of formalities.

Suresh Gupta, chief Manager Circle Office Jammu and S S Chib, district co-ordinator Jammu and other staff were present at the function.