Punjab & Sind Bank opens Kma branch
Dimapur, July 25
Punjab & Sind Bank has opened its second branch in Nagaland, located at the IOC point at Mohonkhola in Kohima on July 25. The new branch was inaugurated by deputy commissioner of Kohima W Honje Konyak.
Declaring the Punjab & Sind Bank unit functional, the deputy commissioner said the branch is the 1147th of the Punjab & Sind Bank’s branches. He expressed happiness that one of the oldest banks in the country has set up an office in the state capital.
The government of India undertaking was established in the year 1905. The bank was established in Nagaland, first in Dimapur in 1976 and the Kohima branch comes after more than three decades. At present, the rate of interest on ‘PSB Fixed Deposit Tax Scheme’ with affect from July 10, 2013 for the public is 8.75% pa.
For senior citizens (public) the rate is 9.25% per annum; for staff members the rate is 9.75% per annum while for ex-staff members/ex-staff members (senior citizens) the rate is 9.75% per annum after completing maturity of 5 years. The new account opening amount is Rs. 1,000 minimum.