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

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. 

Mega-Merger:

• 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:

PNB Logo:

Before Meger -

After Merger - 

PNB Subsidiaries, Associates, and Joint Ventures:

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

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:

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.

You may also like to read the following articles:

• List of Merger of PSU Banks in India
• List of Banks in India 2021: PSU and Private Banks in India
• List of Schemes By Modi Government 2021: Launch Date, Full Form and Other Details

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