History of Punjab National Bank
YEAR EVENTS
1996 - A package was developed for corporate customers for fast remittance of funds from different up-country branches to the controlling office.
- The concept of 'Chief Host' introduced by bank for resolving customers' complaints in the minimum possible time, has resulted in substantial improvement in customer service.
- The Comp. also entered into new activity of arranging Mergers, Acquisitions & Takeovers which has been quite rewarding in terms of return.
2000 - The Credit Rating Information Services of India has suspended its rating for fixed deposit programmes of Amruntanjan Finance.
- The Bank has introduced a scheme for providing finance against mortgage of immovable property.
- Punjab National Bank & Bank of Baroda will tie up to form a subsidiary for a foray into life insurance business, banking industry.
- PNB has launched a gold import scheme. The gold will be imported through an arrangement with Commerzbank.
- ICRA has assigned an `LAAA' rating to Punjab National Bank [PNBs] Rs 240 crore long-term subordinated bond issue [Series Vs].
- The Bank is the first amongst the public sector banks to come out with Voluntary Retirement Scheme.
- Punjab National Bank has become the latest big player to enter the credit card market. The card will have two variants -- Gold & Classic.
- An International Co-branded Credit Card of Punjab National Bank & Hongkong and Shanghai Banking Corporation has been launched in New Delhi.
- Primary market dealers PNB Gilts Ltd is launching a retail scheme in the first week of January to rope in individuals as investors for govt. securities. It has recently tied up with Punjab National Bank & will be using the huge network of 2000 branches of bank all over the country for distribution & receipt of forms for investment in govt. securities.
- Mr. T S Narayansami has taken over as executive director of Punjab National Bank.
2002
- Punjab National Bank incorporated its branch in M.G. Road, Bangalore named as Mid-Corporate Branch [MCDs] to provide its corporate clients with a credit limit of Rs 3.5 crore & above.
- Punjab National Bank is in a joint venture with Infosys for implementation of Centralised Banking Solution for it. The bank plans to implement Centralised Banking Solutions establishing connectivity between its branches to cover 1,500 to 2,000 branches & all ATMs by 2004.
- -Punjab National Bank has informed that the first AGM of shareholders of Bank was held on August 05, 2002. The Chairman declared the following candidates elected as Directors: Dr Pritam Singh , Sh Mohanjit Singh.
- Punjab National Bank has informed that Ms. Malathi Mohan, Asstt. General Manager has been nominated as Comp. Secretary in place of Mr. Ramesh Kumar Kochar.
- Punjab National Bank has launched a special loan scheme called 'Fin-Basket', a composite package of retail loans, for a minimum size of Rs 5 lakhs.
- Punjab National Bank [PNBs] has been presented with the `Best Bank Award' for excellence in banking technology.
- Punjab National Bank [PNBs] tied up with Cisco Systems for networking 3,870 branches as part of its Rs 150 crore plan.
2003
- Punjab National Bank [PNBs] has taken over Kozhikode-based Nedungadi Bank Ltd [NBLs] on Feb 1. All the 174 branches of previous private bank are now working as PNB branches
- Punjab National Bank [PNBs] has entered into an alliance with New India Assurance for selling its general insurance products.
- Punjab National Bank has informed that Shri V K Sibal, a director on the Board of Bank has resigned from the Board. Ministry of Finance, Govt. of India, vide its letter dated May 09, 2003 has conveyed the acceptance of resignation w.e.f. May 07, 2003.
- Punjab National Bank has informed the Exchange that the Bank has signed a Memorandum of Understanding [MOUs] on June 24, 2003 with Principal Financial Services Inc. [USAs] & Vijaya Bank for joint venture partnership in Life Insurance, Pensions & Asset Managements [MFs] business.
- Punjab National Bank [PNBs] has formed a strategic alliance with Infrastructure Leasing & Financial Services Ltd [IL&FSs] to set up a private equity fund for investing in domestic companies.
- Punjab National Bank has informed that it is setting up its Representative Office at London. The office was scheduled to be inaugurated on August 21, 2003. Further, the Bank has been granted license to open Offshore Banking Unit at Seepz, Mumbai.
- New Delhi: Punjab National Bank has entered an agreement with Oriental Bank of Commerce, Indian Bank, UTI Bank & Global Trust Bank for sharing ATMs spread across the country.
-Inks pact with Principal Financial Group of USA to foray into insurance business & pension fund
-Principal Financial Group [Mauritiuss] Limited enters into a joint venture agreement with Punjab National Bank [PNBs] & Vijaya Bank to sell long-term mutual funds & related financial services in India. The new Comp. to be called Principal PNB Asset Management Comp. [in association with Vijaya Banks]
-Receives approval from RBI for opening an Offshore Banking Unit [OBUs] at SEZ, Noida [U.Ps]
-Punjab National Bank [PNBs] has decided to amalgamate its merchant banking arm 'PNB Caps' with itself.
-PNB unveils a scheme to help SSIs to get ISO 9000.
- Board of Directors approved investment of Rs 250 million in the units of 'Leverage India Fund' managed by IL&FS Investments Managers Ltd, & has entered into MoU with IL&FS & IL&FS Investment Managers to sponsor the Fund.
-Shri K D Khera, Director representing Non Workmen Employees of bank, ceases to be Director on the Board of Bank wef October 31, 2003 on attaining age of superannuation.
-The Ministry of Finance, Government of India, vide their notification dated November 25, 2003, Shri Anand Swarup Agarwal has been nominated as part-time non official Director of bank for a period of 3 years from the date of notification.
2004
-Ministry of Finance, Government of India vide their notification dated January 9, 2004 has informed that Dr. K.V. Rajan, Chief General Manager, RBI, Kanpur has been nominated as RBI nominee director of Bank in place of Sh. V.K. Sharma with immediate effect.
-PNB acquires Hindustan Transmission Product Limited [HTPLs] assets under Sarfaesi
-IFCI merger with PNB would help each other
-Delhi based Punjab National Bank [PNBs] & Bangalore-based Vijaya Bank enter into a four-way partnership with Principal Financial of US & Berger Paints to set up an insurance broking company
--Export Credit Guarantee Corporation of India Ltd [ECGCs] & Punjab National Bank [PNBs] sign a corporate agency agreement for marketing ECGC export credit insurance products through the network of PNB branches
-Punjab National Bank has informed that the bank has signed agreement with M/s NCR Corporation India Pvt Ltd for providing clearance of Intercity cheques within 48 hours after the cheque is presented, at selected centers using cheque truncation, where there is Image based Cheque Clearing System.
-Punjab National Bank [PNBs] has enlisted the services of computer industry giant Intel to evaulate its current & future technolgical requirements. An MoU was signed for deployment of various IT-related solutions today between the bank & Intel.
-ICICI Bank & Punjab National Bank have signed a memorandum of understanding [MoUs] for ATM network sharing, giving customers an access to over 2,200 ATMs in India
- PNB accomplishes RTGS installation
- PNB implements Loans & Advances Data Desk for Evaluations & Reports, [LADDERs] system for rationalisation of returns, asset classification & provisioning, credit monitoring & NPA management
- LP Agrwal, Ranjan Dhawan, i D Singh, P K Mitra, K S Bajwa, V P Chowdhary & B P Chopra appointed as General Managers on June 9, 2004
- PNB mandates TCS to deploy HR Solutions
-Tata Consultancy Services [TCSs] has joined hands with PeopleSoft to handle a Rs 5-10 crore worth project mandated by Punjab National Bank [PNBs] to implement human capital management & payroll solution.
-Punjab National Bank has informed that the Bank has entered into money transfer arrangement with Western Union Through their agent M/s Weizmann Forex Ltd
-Punjab National Bank has informed that the Bank branch at Kabul, Afghanistan has commenced soft opening on July 26, 2004
-PNB in ally with NMCE launches new loan scheme
-PNB JV with Principal Financial Group of USA
-Tractor manufacturer Escorts tied up with Punjab National Bank for sponsorship of farmer training centre in Haryana
-Launches corporate internet banking facility on November 18, 2004.
2005 -Government of India, Ministry of Finance [Banking Divisions], New Delhi vide its Notification dated April 30, 2005, appoints Shri S C Gupta as Chairman and Managing Director [CMDs] of Bank.
-PNB unveils ATM at Edappal
2006
-Punjab National Bank today tied up with MasterCard International to launch a signature-based debit card.
-PNB opens branch in Uttaranchal
-Punjab National Bank [PNBs] has tied up with Indian Airlines for online booking of air tickets.
-Punjab National Bank has informed that Shri Rakesh Singh, Joint Secretary [IFs], Ministry of Finance has been appointed Government nominee Director on the Board of Bank w.e.f. October 20, 2006 under Clause 9[3s][bs] of Banking Companies [Acquisition & Transfer of Undertakingss] Act, 1970.
-PNB ties up with IDBI Capital
-Punjab National Bank has informed that Sh. A S Agarwal, Government nominee Director on the Board of Bank w.e.f. November 25, 2003, has demitted the office on November 24, 2006 on completion of his tenure of 3 years.
2007
-Punjab National Bank has appointed Shri Ramesh Kumar Kochar as Comp. Secretary of Bank.
- Punjab National Bank has informed that the Government of India, Ministry of Finance, Department of Economic Affairs [Banking Divisions], New Delhi vide Notification dated June 06, 2007 has appointed Shri. Jag Mohan Garg as a Whole-time-Director [designated as Executive Directors] on the Board of Punjab National Bank from the date of his taking over charge of his post or until further orders or till the date of his superannuation i.e. upto July 31, 2010 whichever is earlier.
-Punjab National Bank is entering into an MoU with India Infrastructure Finance Co. [IIFCs] on October 17, 2007 with an aim to extend its cooperation & support to IIFC in areas of creating a deal flow of infrastructure projects.
2008
- Punjab National Bank entered into a memorandum of understanding [MoUs] with IL&FS Cluster Development Initiative Ltd in order to provide impetus to financing of industrial infrastructure projects.
-Punjab National Bank [PNBs], has tied up with Networth Stock Broking Ltd [NSBLs] for an Internet trading alliance.
- Punjab National Bank cut its prime lending rate by 50 bps.
- Punjab National Bank has opened its 69th branch at Khammam.
- Punjab National Bank has announced the opening of its 133rd branch in Kerala at Sana Towers, Medical College Junction, Kozhikode. All 133 branches in the State are networked under the core banking solution including this branch.
- Punjab National Bank has informed that Government of India has nominated Shri Vinod Kumar Mishra as part-time non-official Director on the Board of Bank for a period of three years from the date of Notification of his appointment or until further orders, whichever is earlier.
2009
- The Punjab National Bank has opened a new branch at Leicester in Britain. Leicester has a large section of people of Indian origin. The branch has been opened this week in the Belgrave Commercial Centre, in the heart of what is called the Golden Mile - the heart of Asians business & culture. It is also popularly known as 'Little India'.
- Punjab National Bank has informed that Government of India, Ministry of Finance, Deptt. of Financial Services vide notification No. F. No. 9/22/2008-BO.I dated March 26, 2009 has appionted Shri Nagesh Pydah & Shri M. V. Tanksale as Executive Directors [Whole time Directorss] on the Board of Bank. The said Executive Directors will hold office from the date of taking charge up to the date of superannuation or until further orders, whichever is earlier. 1s] Name : Shri Nagesh Pydah, Date of taking charge : March 26, 2009, Date of superannuation : February 29, 2012. 2s] Name : Shri M.V. Tanksale, Date of taking charge : March 26, 2009, Date of superannuation : July 31, 2013.
