Know Your Bank: Punjab National Bank

Dear Aspirants,

Keeping in mind the upcoming Examination of Banking, we are starting a new series. As part of new series, Banks’ relevant and useful information will be provided here. Thus you can know more about the bank and thus make further decision regarding bank preferences and other thing.

So today I am posting details of Punjab National Bank.

Punjab National Bank, India’s first Swadeshi Bank, commenced its operations on April 12, 1895 from Lahore, with an authorized capital of Rs 2 lac and working capital of Rs 20,000. Punjab National Bank is one of the Big Four banks of India, along with State Bank of India, ICICI Bank and Bank of Baroda.

MD & CEO – Smt. Usha Ananthasubramanian

Headquarter – Delhi

It is the third largest bank in India in terms of asset size (billion by the end of FY 2012-13). The bank has been ranked 248th biggest bank in the world by the Bankers’ Almanac.

During the long history of over 120 years of the Bank, 7 banks have merged with PNB and it has become stronger and stronger with a network of 6635 branches and 8622 ATMs as on 30th Sept’15.

PNB has the distinction of being the first Indian bank to have been started solely with Indian capital that has survived to the present.

Corporate Social Responsibility (CSR) is an integral part of corporate business strategy of the Bank. The Bank is promoting welfare of people living in rural and semi urban areas as a part of its CSR activity. Under PNB VIKAS which is a Village adoption scheme to develop the villages in a holistic manner, the Bank has adopted 151 villages (68 in lead districts and 73 in non-lead districts) across the country.

Towards women empowerment, PNB became the first bank in the country to start opening of ‘Sukanya Samriddhi Deposit accounts’.

In line with the Government’s Swachh Bharat Mission, the Bank launched Swachh Vidayalaya Campaign to provide financial assistance for construction of utilities in the Government schools of adopted villages.

Other Initiative under CSR –

1. PNB Ujala
2. PNB Ladli Scheme
3. PNB Asha Kiran scheme

Delivery Channels: There are many delivery channels used by PNB to provide its customers with services. The various delivery channels are ATMs, Cash Deposit Machines, Cheque Deposit Machines, Passbook Updation Machines, A/c opening Kiosks, etc. The Bank is alsosetting up offsite and onsite e-lobbies with provision of 24*7 services.

Awards:

1. PNB was the only Bank amongst Public Sector Banks to receive ‘IBA Banking Technology Award’ under ‘Best Risk Management Initiatives’.

2. Globally, the Bank improved its ranking from 190th in 2014 to 174th in 2015 in ‘The Banker’s Top 1000 World Banks’.

3. The Bank was awarded with ‘Agriculture Leadership Award 2015’ by Agriculture Today Group.

4. The Bank was given ‘National Education Excellence Award (NEEA) 2015’ for Excellent Contribution in advancing Education Loans to Students by ‘Federation of Industry Trade & Services (FITS)’.

5. Bank was judged ‘Best Public Sector Bank under Priority Sector Lending’ by Dun & Bradstreet.

6. It also received ‘Golden Peacock Business Excellence Award’ by Institute of Directors.

Thanks!