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PNB Signs ₹21,000 Crore MoU with Rajasthan Govt under 'Rising Rajasthan' Initiative.

MOUs and Agreement | Dated: 09 Sep 2025

On 7 September 2025, Punjab National Bank (PNB) signed a ₹21,000 crore Memorandum of Understanding (MoU) with the Government of Rajasthan to finance development projects under the state’s ‘Rising Rajasthan’ economic growth initiative.

🎯 Key Highlights:

  • - PNB’s Managing Director & CEO, Ashok Chandra, described the partnership as a matter of pride, highlighting how the bank’s extensive branch network, strong digital infrastructure, and varied product suite will support Rajasthan’s socio-economic progress.
  • - Rajasthan’s Chief Minister, Bhajanlal Sharma, announced the signing on X (formerly Twitter), calling it a significant stride toward realizing the vision of a "Developed Rajasthan", and signifying the strategic intent behind the collaboration.
  • - During his Jaipur visit, Ashok Chandra also distributed 2,000 loan sanction letters to women entrepreneurs at a self-help group (SHG) distribution event attended by nearly 3,000 SHG members.

💡 Other Important Facts:

  • (i) The MoU establishes a structured financing mechanism to back eligible development projects in Rajasthan, fortifying PNB’s role in advancing regional infrastructure and economic growth.
  • (ii) PNB’s townhall engagement with staff and inspection of local branches and ATMs in Jaipur underscored ongoing efforts toward digital banking adoption, improving customer outreach, and enhancing service excellence for its 18.5 crore customers.

📚 Test Your Knowledge:

Which bank recently signed an MoU with the Rajasthan Government under the 'Rising Rajasthan' initiative?

Correct Answer: Punjab National Bank

🚀 Quick Recap:

About Rajasthan

  • Chief minister: Bhajan Lal Sharma
  • Governor: Haribhau Bagade