Who is the owner of Punjab National Bank | wiki

Punjab National Bank, an Indian commercial Bank. Know more about the owner of Punjab National Bank and more Organisation information. Punjab National Bank, one of the Big Four Banks of India. They contribute banking products including credit card and debit card business, bullion business, many insurance businesses, and also the gold coins and asset management business.

• About the owner of Punjab National Bank
  

Punjab National Bank was incorporated in the year 1894 in Lahore, undivided by India. The Bank has the distinction of being the first Indian bank to have been started solely with Indian capital. In the year 1940, the Bank absorbed Bhagwan Dass Bank, a scheduled bank located in Delhi circle. Notably, in the year 1951, they acquired the 39 branches of Bharat Bank and in the year 1961, they acquired Universal Bank of India. The incorporation of the bank is solely for the purpose of a national bank in India.

The company was established in 189, under Patriots like Lala Lajpat Rai, Babu Kali Prasono Roy, E C Jessawala,  Lala Harkishan Lal, and Sardar Dyal Singh Majithia. It is to be noted, it is headquartered in New Delhi, India. And represented their courage in supplying idiom to the spirit of nationalism on establishing the first bank completely managed by the Indians with Indian Capital.

The actual business of the bank began in Aprile 1895.  It commenced with Rs 2 lac authorized capital and working capital of Rs 20,000. The growing period of PNB, it leads to the merger of 7 banks to itself.  Even before the auditing was mandatory, PNB launched itself with the auditors.

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• Details of the owner of Punjab National Bank(Wiki)

Notably, The Indian central government, owner of Punjab & Sind Bank. Lala Lajpat Rai, the first person to start an account in PNB. Also, one among the founders of the Bank. He wanted to make the interest from bank to reach indian’s hand even when the bnk was under the british powers.

Shri Sunil Mehta, former MD & CEO Of Punjab National Bank. Sunil Mehta qualified as a Post Graduate in Agriculture, an MBA in Finance, and a Certified Associate of the Indian Institute of Bankers (CAIIB). For the most part, he is a long-serving banker with over 35 years of rich experience in various administrative and functional capacities at Branches, Zonal Offices, and even at the Head Office level. The banking career of Mehta emerged accordingly as an Agriculture Field Officer at Allahabad Bank in 1982. In fact, various important positions were entrusted to him during the trial of his career owing to the prospect of his virtuosity in agriculture, retail, credit, and planning & development.

• Shri Sunil Mehta – Non-Executive Chairman

• Details of the Company

Punjab National Bank, commenced its operations on April 12, 1895, from Lahore, by all means with an authorized capital of Rs 2 lac and a working capital of Rs 20,000.

Comparatively, they are recognized as the Bank offering highest levels of customer satisfaction in Delhi and Chennai.

Punjab National Bank indeed nationalized in July 1969 along with 13 other banks. Provided that, in the year 1986, they acquired Hindustan Commercial, which added Hindustan 142 branches to the Banks network.

To be noted, the largest domestic network of 4997 offices, including 46 extension counters among Nationalized Banks holds to be for Punjab National Bank. All their branches certainly offer Core/ Centralized Banking Solutions (CBS) along with a variety of financial products. Owing to different market segments. In addition, the organization has an international network in 9 countries, including a branch in Kabul, 2 branches in Hong Kong, and representative offices in Almaty, Dubai, Shanghai, and Oslo. Moreover, a wholly-owned subsidiary in the UK (with 5 branches), and a joint venture with Everest Bank Ltd, Nepal.

To conclude

In fact, by the year 2008, PNB accepted itself to be the largest bank with the maximum number of CBS systems in the nation. Presently, 7 banks have merged with PNB. Eventually, it has become stronger with a network of 6941 Domestic branches and 9753 ATMs as of 30th September 2017.

The Punjab National Bank Scam

Lately, PNB became liable for a debt of US$1.77 billion after the fraudulent undertaking of a letter. The scam happened in one of its branches located in Mumbai. A jeweler  Nirav Modi of Gitanjali Group was the individual behind the PNB Scam. CBI has already registered a complaint against those.

The Scam involved the hands of two employees from the bank, who helped the two convicts in bypassing the Core banking system. And which eventually lead to the transfer of the money to accounts of several other bank branches.

CBI also interrogated RBI directors, and PNB from the RB for the lack of proper auditing in Punjab National Bank.

Moreover, even after the Scam incidents, the bank has received growth in its domestic business. About 7.9% of growth is noted between the 2017 and 2018 commerce years. It is reported that more than 10 crores of domestic investment are witnessed today.

• Punjab National Bank India Limited customer care

For banking

• 1800 180 2222 & 103 2222
• +91 120 2490000

If you want the information on your current bank statement so you can miss calling this number.

• 1800 180 2223 (Toll-Free)
• +91 120 2303090 (Global Users)

If you have any complaint regarding the credit card so call  PNB

• 1800 180 2345(Toll-Free)
• +91 120 4616200 (Global Users)