Who is the owner of Punjab National Bank | wiki

The company,  established in 189, under the Patriots like Lala Lajpat Rai, Babu Kali Prasono Roy, E C Jessawala,  Lala Harkishan Lal and Sardar Dyal Singh Majithia. 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 begun on Aprile 1895.  It commenced with Rs 2 lac authorized capital and working capital of Rs 20,000. During the growing period of PNB, it lead to the merger of 7 banks to itself.  Even before the auditing was mandatory, PNB launched itself with the auditors.

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, current MD & CEO Of Punjab National Bank. Sunil Mehta, qualified as a Post Graduate in Agriculture, MBA in Finance and a Certified Associate of Indian Institute of Bankers (CAIIB). For the most part, he is a long-serving banker with above 35 years of rich experience in various administrative and functional capacities at Branches, Zonal Offices, and even at the Head Office level. 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

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 Solution (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 at Kabul, 2 branches in Hong Kong, representative offices at 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 maximum 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 on 30th September 2017.

The Punjab National Bank Scam

Lately, PNB became liable to a debt of US$1.77 billion after the fraudulent undertaking of a letter. The scam happened in one of its branches located at Mumbai. A jeweler  Nirav Modi of Gitanjali Group were the individuals 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 transfer the money to accounts of several other bank branches.

CBI also interrogated RBI directors,  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 their domestic business. About 7.9% of growth is noted between 2017 and 2018 commerce year. It is reported that more than 10 crores domestic investment is witnessed today.

for banking

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

If you want information of 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)