Punjab National Bank which is one of the big names in banking industry is planning to enter in to insurance sector and therefore is looking for Joint Venture Partner.

India’s second largest public sector lender PNB who is looking to enter in Insurance business with strategy to provide full range of financial products to its customers. Bank who will use its wide reach and huge customer base as business strategy for its Insurance business.

The bank said we will not restrict ourselves to the Life Insurance. Bank is eyeing the opportunity in both Life Insurance as well as in Non-Life Insurance.

It has invited expression of interest (EoI) for strategic partnership in life insurance and non-life insurance business from Indian and international companies.

The bank will evaluate these opportunities and may form strategic tie-ups with interested parties," PNB said.

It said it is open to any operating model ' whether existing in the industry or new ' for such strategic partnerships.

The bank is looking for opportunities both in short-term and long-term. In this way, the bank contemplates potential benefits to its customers by making available attractive insurance products," it said.