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Banking
Industry Insurance
Capital Markets and allied industries
Website www.pnbindia.com
Punjab National Bank (PNB), was registered on May 19, 1894 under the Indian Companies Act
with its office in Anarkali Bazaar Lahore. The Bank is the second largest government-owned
commercial bank in India with about 4,904 branches across 764 cities. It serves over 37 million
customers. The bank has been ranked 248th biggest bank in the world by 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, and Shanghai.
Contents
[hide]
• 1 History
• 2 Chairmen of Punjab National Bank
• 3 Forbes Global 2000 Ranking
• 4 References
[edit] History
• 1895: PNB commenced its operations in Lahore. PNB has the distinction of being the
first Indian bank to have been started solely with Indian capital that has survived to the
present. (The first entirely Indian bank, the Oudh Commercial Bank, was established in
1881 in Faizabad, but failed in 1958.) PNB's founders included several leaders of the
Swadeshi movement such as Dyal Singh Majithia and Lala HarKishen Lal,[1] 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.
• 1904: PNB established branches in Karachi and Peshawar.
• 1940: PNB absorbed Bhagwan Dass Bank, a scheduled bank located in Delhi circle.
• 1947: Partition of India and Pakistan at Independence. PNB lost its premises in Lahore,
but continued to operate in Pakistan.
• 1951: PNB acquired the 39 branches of Bharat Bank (est. 1942); Bharat Bank became
Bharat Nidhi Ltd.
• 1961: PNB acquired Universal Bank of India.
• 1963: The Government of Burma nationalized PNB's branch in Rangoon (Yangon).
• September 1965: After the Indo-Pak war the government of Pakistan seized all the offices
in Pakistan of Indian banks, including PNB's headoffice, which may have moved to
Karachi. PNB also had one or more branches in East Pakistan (Bangladesh).
• 1960s: PNB amalgamated Indo Commercial Bank (est. 1933) in a rescue.
• 1969: The Government of India (GOI) nationalized PNB and 13 other major commercial
banks, on July 19, 1969.
• 1976 or 1978: PNB opened a branch in London.
• 1986 The Reserve Bank of India required PNB to transfer its London branch to State
Bank of India after the branch was involved in a fraud scandal.
• 1986: PNB acquired Hindustan Commercial Bank (est. 1943) in a rescue. The acquisition
added Hindustan's 142 branches to PNB's network.
• 1993: PNB acquired New Bank of India, which the GOI had nationalized in 1980.
• 1998: PNB set up a representative office in Almaty, Kazakhstan.
• 2003: PNB took over Nedungadi Bank, the oldest private sector bank in Kerala. At the
time of the merger with PNB, Nedungadi Bank's shares had zero value, with the result
that its shareholders received no payment for their shares.
PNB also opened a representative office in London.
• 2004: PNB established a branch in Kabul, Afghanistan.
PNB also opened a representative office in Shanghai.
PNB established an alliance with Everest Bank in Nepal that permits migrants to transfer
funds easily between India and Everest Bank's 12 branches in Nepal.
• 2005: PNB opened a representative office in Dubai.
• 2007: PNB established PNBIL - Punjab National Bank (International) - in the UK, with
two offices, one in London, and one in South Hall. Since then it has opened a third
branch in Leicester, and is planning a fourth in Birmingham.
• 2008: PNB opened a branch in Hong Kong.
• 2009: PNB opened a representative office in Oslo, Norway, and a second branch in Hong
Kong, this in Kowloon.
• 2010: PNB received permission to upgrade its representative office in the Dubai
International Financial Centre to a branch.
[edit] Chairmen of Punjab National Bank
• 1895-1898 Sardar Dyal Singh Majithia
• 1898-1905 Rai Bahadur Lala Lal Chand
• 1905-1910 Bhagat Ishwar Dass
• 1911-1912 Rai Bahadur Lala Lal Chand
• 1912-1913 Rai Bhadur Lala Sukddyal
• 1913-1915 Bhagat Ishwar Dass
• 1917-1920 Dr. Hira Lal Bhatia
• 1920-1931 Lala Dhanpat Rai
• 1931-1937 Dr. Maharaj Krishana Kapoor
• 1938-1942 Rai Bahadur Diwan Badri Dass
• 1943-1953 Lala Yodh Raj
• 1953-1954 Shriyansh Parshad Jain
• 1954-1959 Seth Shanti Parkash Jain
• 1960-1964 Ram Nath Goenka
• 1964-1967 Kamal Nayan Bajaj
• 1968-1972 Somesh Chander Trikha
• 1972-1975 Parkash Lal Tandon
• 1975-1977 Tirath Ram Tuli
• 1977-1980 Om Parkash Gupta
• 1980-1981 Shyam Lal Chopra
• 1981-1985 Sudarshan Lal Baluja
• 1985-1990 Kundan Lal Aggarwal
• 1990-2000 Rashid Jilani
• 2000–2005 S.S. Kohli
• 2005-2007 Satwant Chand Gupta
• 2007-2009 K.C. Chakrabarthy
• 2009- K.R. Kamath
[edit] Forbes Global 2000 Ranking
Punjab National Bank was ranked 1243 in the Forbes Global 2000 http://www.pnbindia.com [2].
[http://www.forbes.com/lists/2006/18/06f2000_The-Forbes-2000_Counrty_5.html
[edit] References
1. ^ Chapter "The Nations Bankers", Madan Gopal ISBN 81-230-0119-3
2. ^ The Forbes 2000 - Forbes.com]
• Tandon, Parkash Lal (1989) Banking century: a short history of banking in India & the
pioneer, Punjab National Bank. (New Delhi, India: Penguin; New York: Viking).
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Axis Bank was the first of the new private banks to have begun operations in 1994,
Vision 2015 and Core
Values after the Government of India allowed new private banks to be established. The
Bank was promoted jointly by the Administrator of the specified undertaking of the
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Compensation Policy
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