Ranchi witnessed a key development in public finance Tuesday as the Jharkhand administration and Punjab National Bank formalized an MoU for salary accounts dedicated to government employees. Chief Minister Hemant Soren, presiding over the signing in the ministry auditorium, welcomed PNB as a vital new ally in the state’s financial ecosystem.
In his keynote address, Soren elaborated on banks’ multifaceted roles—from routine transactions for ordinary citizens and staff to fueling growth in agriculture, business, and rural sectors. He stressed the social duties of banks, positioning this MoU as a continuation of successful prior collaborations.
The agreement is expected to introduce user-friendly salary packages, easing payroll management and offering perks like fee waivers, higher savings yields, and priority services. Soren congratulated PNB officials and voiced assurance in their dedication to shared goals, predicting widespread advantages for employees and the public.
Notable attendees comprised Ministers Radha Krishna Kishore, Dr. Irfan Ansari, Sanjay Prasad Yadav, Deepika Pandey Singh, Shilpi Neha Tirkey; Chief Secretary Avinash Kumar; and PNB’s Mahaprabandhak Ashish Kumar Chaturvedi, Mandal Pramukh Avdhesh Jha, and Up Mandal Pramukh Rakesh Kumar Srivastava.
This strategic tie-up reflects Jharkhand’s drive towards efficient governance and financial empowerment. By partnering with a major public sector bank, the state aims to reduce administrative burdens, promote digital payments, and support long-term economic resilience amid evolving fiscal challenges.