Wednesday, June 22, 2011


We had a meeting with the Executive Director of Punjab National Bank yesterday to consider the useful employment of Disabled Veterans in Villages and urban areas to enable them to earn whilst doing other jobs as well. They were very receptive to the idea and immediately asked us to initiate persons willing to undertake to help themselves. The scheme is as below.
The areas that the PNB is presently interested in is Punjab, Haryana, Himachal, UP, Madya pradesh, Bihar and Rajasthan. Please give this wide publicity because through this scheme persons whilst at home in Villages could earn more than Rs 3000/- per month. SEED, PNB tie up to roll out micro MFs By Ritwik Mukherjee Oct 06 2010, Kolkata SEED, one of the largest business correspondents in the country working with a number of public sector and private banks, is now well set to get into micro mutual funds across Punjab, Hariyana, Bihar and Rajasthan in association with Punjab National Bank.
SEED- PNB will target people who have already been benefited from SEED’s financial inclusion programmes and other people who don’t have any bank account or access to any banking services.
“We will guide people with the help of banking correspondents about mutual funds and other banking products. Unlike regular mutual funds, micro mutual fund is available in smaller lots like Rs 500 to Rs 1,000. Secondly, the criteria such as possessing a pan number as well the 3 years lock-in period will also have certain relaxations in this case. This is because the target in this case is the unbanked/ underbanked population,” Anirban Roy, founder & managing director of SEED, told FC.
SEED is also one of the leading providers of consultancy and implementation services in areas of resettlement & rehabilitation, CSR implementation, microfinance, financial inclusion, infrastructure development, social impact assessment, environment impact assessment and skill development.
SEED, which has so has so far created 1.5 million no frill accounts for various banks and is working towards a mandate size of more than 15 million accounts, is also introducing some microcredit schemes to offer finance to rural people to establish themselves and earn their basic requirements on their own. With the help of skill development classes and other vocational training modules, SEED is aiming at a pan-India microfinance project with several banks and companies, Roy said.
Col H N Handa
President Diwave

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