PNB launches Xpress Money Remit Card

Public sector lender Punjab National Bank (PNB)  on Friday launched India’s first co-branded remittance card ‘PNB Xpress Money Remit Card’.

The card enables Xpress Money customers to send and receive money from overseas in a secure manner round the clock everyday.

Speaking on the occasion, PNB Chairman and Managing Director K R Kamath said the bank is targetting a business of `10,000 crore from Kerala in the financial year 2012-13. Currently, the bank is doing a business of `7,500 crore from the state.

He also inaugurated nine branches and nine ATMs  here. With this the total number of PNB branches has reached 159 and the number of ATMs has increased to 158. The newly opened branches are Maradu, Piravom, Aroor, Kothanelloor, Erattupetta, Varkala, Vizhinjam, Attingal and Wadakkanchery.

Kamath also said that the bank will open 500 new 24 hour, multi-functional self service centres, including 20 in Kerala, across the country before March 31, 2013.

Speaking about the monetary policy of the Reserve Bank, Kamath said that the central bank will focus on growth in the near future.

Y Sudhir Kumar Shetty, Chief Operating Officer-Global Operations, UAE Exchange, V George Antony, Country Head-India, UAE Exchange and Sudhesh Giriyan, Head, Express Money Business were also present at the function.