India, Feb. 11 -- Punjab National Bank (PNB) has signed a memorandum of understanding (MoU) Indian Oil Corporation (IOC) to provide up to Rs 2 crore to the oil company's dealers. The MoU would benefit dealers with credit facilities at lower interest rates, nil margin, and with minimum or zero collateral requirements through the PNB e-Dealer scheme.

Understanding the financial requirements and providing ease of banking services, PNB electronic dealer finance scheme is a tailormade credit lending product crafted for the Indian Oil dealers. The loan can be availed maximum up to Rs 2 crore with zero-margin.

PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide va...