PUBLIC SECTOR BANKS IN INDIA – PUNJAB NATIONAL BANK
PUBLIC SECTOR BANKS OF INDIA – PUNJAB NATIONAL BANK
Punjab National Bank (PNB) was founded in 1894 and today is the second largest state-owned commercial bank in India with about 5000 branches across 764 cities. It serves over 37 million customers. The bank has been ranked 248th biggest bank in the world by the Bankers Almanac, London. The bank’s total assets for financial year 2007 were about US$60 billion. PNB has a banking subsidiary in the UK, as well as branches in Hong Kong, Dubai and Kabul, and representative offices in Almaty, Dubai, Oslo, Shanghai.
Punjab National Bank is one of the Big Four banks of India Country along with ICICI Bank, State Bank of India and HDFC Bank, which are its main competitors. PNB’s founders included several leaders of the Swadeshi movement such as Dyal Singh Majithia and Lala HarKishen Lal,Lala Lalchand, Shri Kali Prosanna Roy, Shri E.C. Jessawala, Shri Prabhu Dayal, Bakshi Jaishi Ram, and Lala Dholan Dass. Lala Lajpat Rai was actively associated with the management of the Bank in its early years. The board first met on 23 May 1894.
PNB Bank has the distinction of being the first Indian bank to have been started solely with Indian capital that has survived to the present. PNB has had the privilege of maintaining accounts of national leaders such as Mahatma Gandhi, Shri Jawahar Lal Nehru, Shri Lal Bahadur Shastri, Shrimati Indira Gandhi, as well as the account of the famous Jalianwala Bagh Committe.