Punjab National Bank Signed MoU with SAIL to Offer Loans

Current Context: Punjab National Bank (PNB) has entered into a Memorandum of Understanding (MoU) with the Steel Authority of India Limited (SAIL) to offer concessional loans to SAIL employees on 11th July 2024 in New Delhi.

• Key Points of the Partnership:
• Loan Types: The partnership will provide home loans, car loans, and education loans to SAIL employees at special rates.
• Benefits: This collaboration aims to improve the financial well-being of SAIL employees while expanding PNB's customer base within the steel sector.
• Terms: The specific terms and conditions of the loans, including interest rates and repayment options, will be detailed in the loan agreements.

Question:

1. Which organization has entered into a MoU with PNB to provide concessional loans to its employees?

• A) Bharat Heavy Electricals Limited (BHEL)
• B) National Thermal Power Corporation (NTPC)
• C) Steel Authority of India Limited (SAIL)
• D) Oil and Natural Gas Corporation (ONGC)

Answer: C) Punjab National Bank (PNB) has entered into a Memorandum of Understanding (MoU) with the Steel Authority of India Limited (SAIL) to offer concessional loans to SAIL employees on 11th July 2024 in New Delhi.