Punjab National Bank (PNB): History, Fact, MD/CEO, HQ & Taglines: Public Sector Banks of India

By BYJU'S Exam Prep

Updated on: September 25th, 2023

Punjab National Bank full detail: Do you know who the first customer of Punjab National Bank was? Or Do you know what was the initial authorized total capital of PNB? Or How many zonal offices does Punjab National Bank has? If your answer is ‘no’ to any of these questions, then keep reading the article to find out.

In the series ‘Know All About The Public Sector Banks of India’, Gradeup has brought all the relevant static facts about India’s major Public Sector Banks. In this article, we are discussing one of the oldest banks of India, i.e. Punjab National Bank. This article will help you preparing for various Bank Examinations such as SBI PO, IBPS PO, SBI Clerk, IBPS Clerk, RRB Officers, etc.

Now, let’s discuss the History, Merger, and all other interesting facts about Punjab National Bank in detail:

Punjab National Bank History: 

  • Punjab National Bank was established on 19 May 1894, in Lahore to provide the country with an actual national bank.
  • The operation of the bank started on 12 April 1895.
  • There were 7 Directors on the first board of Directors, they are:
    1. Sardar Dayal Singh Majithia – 1st Chairman
    2. Lala Lalchand
    3. Kali Prosanna Roy
    4. Lala Harkishan Lal
    5. EC Jessawala
    6. Lala Prabhu Dayal
    7. Bakshi Jaishi Ram
  • The initial authorized total capital of PNB was Rs. 2 Lakh, while the working capital was Rs. 20 thousand.
  • In 1951, Bharat Bank Ltd. was merged with the PNB. 


  • With Effect from 1 April 2020, Oriental Bank of Commerce and United Bank of India was merged into the State-owned Punjab National Bank. 
  • After the merger, the combined entity became the second-largest nationalized bank of India both in terms of business and branch networks.
  • The merged bank has a network of 11,000 plus branches and 13,000 plus ATMs & 12346 business correspondents along with 1,00,000+ manpower.

PNB HQ, CEO & Taglines:

Punjab National Bank
Headquarter New Delhi
Zonal Offices  24
Circle Offices  161

Mr S.S. Mallikarjuna Rao

  • A name you can Bank upon
  • Together for the better

PNB Logo:

Before Meger –



After Merger – 


PNB Subsidiaries, Associates, and Joint Ventures:

Following is the list of PNB’s subsidiaries, associates, and joint ventures. 

Domestic PNB Gilts Ltd.
PNB Investment Services Ltd.
PNB Insurance Broking Pvt. Ltd.#
PNB Cards and Services Limited ##
International  Punjab National Bank (International) Ltd., United Kingdom
Druk PNB Bank Ltd, Bhutan
Domestic  Dakshin Bihar Gramin Bank, Patna
Sarva Haryana Gramin Bank, Rohtak
Himachal Gramin Bank, Mandi
Punjab Gramin Bank, Kapurthala
Prathama UP Gramin Bank, Meerut
Assam Gramin Vikash Bank, Assam
Bangiya Gramin Vikash Bank, West Bengal
Tripura Gramin Bank, Agartala
Manipur Rural Bank, Imphal
PNB Housing Finance Ltd.
PNB MetLife
Canara HSBC OBC Life Insurance Co. Ltd.
India SME Asset Reconstruction Co. Ltd.
International  JSC Tengri Bank, Kazakhstan
Joint Venture
International  Everest Bank Ltd., Nepal

PNB Awards & Achievements:

  1. IBA Banking Technology Awards 2020:
    1. Winner – Most Innovate Project using Technology for PNBOne
    2. Runners Up – Best Use of Data and Analytics for Business Outcome – Large Bank Category
  2. BFSI Digital Innovation Awards:
    1. Winner – In the category of – Robotics Process Automation 

Click here to see the entire list of awards & achievements of PNB.

PNB Current Interest Rates:



Savings Bank Deposits

(Interest Rate (W.E.F. 1st March 2021))

  • Savings Fund Account Balance below Rs. 100 Crore (3.00% p.a.)
  • Savings Fund Account Balance of Rs. 100 Crore & above (3.50% p.a.)

Facts about Punjab National Bank:

  • PNB ONE – A unified mobile banking application that provides all banking facilities such as Accounts, Transfer of Funds, Pay Bills/Recharge, etc. at a single platform on a 24*7 basis. 
  • PIHU – It is a PNB Chatbot that helps customers queries on a text-based channel. 
  • PNB has Overseas branches in Hong Kong & Dubai.
  • PNB has waived off transaction charges on IMPS, RTGS, NIFT & UPI.
  • Lala Lajpat Rai was the first customer to open an account with PNB. 
  • PNB has served many iconic national leaders like Jawahar Lal Nehru, Gobind Ballabh Pant, Lal Bahadur Shastri, Smt. Indira Gandhi etc. 

Recent News:

  • The director of J&K Bank Rigzian Sampheal has resigned & Nilesh S Vikamsey has been reappointed by PNB Housing 

So, Guys, this is all about the history, facts, and recent news about the Punjab National Bank. We have tried to cover all the static information about the bank, which is relevant to the Bank Exam. We hope that you liked the article. For more articles like this on the other Indian States, stay tuned with us.

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