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Punjab & Sind Bank founders group portrait. From left-to-right: Tarlochan Singh, Vir Singh, Sundar Singh Majithia The first branch of the bank in Amritsar was established on 24 June 1908 by Bhai Vir Singh, Sir Sunder Singh Majitha, and Sardar Tarlochan Singh to serve the then Sind and Punjab areas of colonial India.
Rank Name of the Bank Year of Founding Year of Closing Fate Headquartered in References [1]; 1: The Madras Bank (1683) 1683: 1843: Merged with the Carnatic Bank, The British Bank of Madras (1795), and the Asiatic Bank to form the Bank of Madras in 1843
The share of the bank sector held by the public banks continued to grow through the 1980s, and by 1991 public sector banks accounted for 90% of the banking sector. A year later, in March, 1992, the combined total of branches held by public sector banks was 60,646 across India, and deposits accounted for ₹1,10,000 crore.
Punjab and Sind Bank; Vijaya Bank (Now Bank of Baroda) Oriental Bank of Commerce (now Punjab National Bank) Corporation Bank (now Union Bank of India) Andhra Bank (now Union Bank of India) New Bank of India (now Punjab National Bank) Later on, in the year 1993, the government merged New Bank of India with Punjab National Bank. [36]
The National Financial Switch was launched by the IDRBT on 27 August 2004, connecting the ATMs of three banks, Corporation Bank, Bank of Baroda and ICICI Bank. [3] [4] [5] The IDRBT then worked towards bringing all major banks in India on board and by December 2009, the network had grown to connect 49,880 ATMs of 37 banks, thereby emerging as the largest network of shared ATMs in the country.
Punjab National Bank is a Public sector undertakings in India (PSU) working under the government of India regulated by the Reserve Bank of India Act, 1934 and the Banking Regulation Act, 1949. It was registered on 19 May 1894 under the Indian Companies Act, with its office in Anarkali Bazaar , in pre-independent India (present-day Pakistan ).
Image Source: Getty Images. Why 2025 could be a pivotal year for AMD. Much of the reason why Nvidia experienced such enormous growth in its data center business stems from the fact that the ...
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