Punjab National Bank (PNB) has introduced a new digital loan scheme called “DIGI PNB SHRAM SAATHI” for frontline community workers across India.
Under this scheme, eligible workers can get collateral-free loans of up to Rs 1 lakh without lengthy paperwork or branch visits.
The bank says the initiative is part of the government’s “Vision Viksit Bharat@2047” mission, which focuses on financial inclusion and economic support for workers at the grassroots level.
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Who Can Apply For This Loan?
The scheme is specially designed for skilled, semi-skilled, and unskilled workers serving in government-linked roles.
Eligible workers include:
Anganwadi workers and helpers
ASHA workers and health facilitators
Mid-day meal cooks and literacy mission workers
Sanitation workers and garbage collectors
Forest workers and fire watchers
Daily wage and contractual workers employed with CPSEs like BHEL, GAIL, SAIL, and ONGC
The loan is available only for existing PNB customers who meet the bank’s KYC requirements.
Fully Digital Process With Minimal Paperwork
PNB says the entire loan process is digital, making it easier and faster for workers to apply.
The bank has also kept documentation requirements very low to ensure hassle-free access to credit.
Another major highlight is that borrowers do not need to provide any collateral or margin money.
Key Features Of DIGI PNB SHRAM SAATHI Scheme
Here are the important details of the scheme:
Loan amount: Rs 10,000 to Rs 1 lakh
Interest rate: Starting at 11%
Processing fee: Nil
Documentation charges: Nil
Margin requirement: Nil
Repayment period: Up to 36 months
Age eligibility: Minimum 21 years
Annual household income limit: Up to Rs 3 lakh
PNB has also announced that the bank itself will bear the premium cost for group credit insurance linked to these loans.
PNB Says Scheme Will Reduce Dependence On Informal Borrowing
Subodh Kumar, GM of Retail Asset Business Division at PNB, said the scheme aims to financially empower frontline workers such as ASHA workers, Anganwadi staff, and sanitation employees.
According to the bank, easier access to formal credit can help these workers avoid high-interest informal loans and improve their financial stability.