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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.
Sindh Bank Limited was established on 29 October 2010 with seed capital of Rs.10 billion, wholly subscribed by the Government of Sindh. [1] It commenced full-scale banking business in April 2011, and has established 331 on-line branches spread across 169 towns and cities of Pakistan. Out of these, 14 branches are dedicated to Islamic Banking.
The seven other state banks became subsidiaries of the new bank in 1959 when the State Bank of India (Subsidiary Banks) Act, 1959 was passed by the Union government. [ 1 ] The next major government intervention in banking took place on 19 July 1969 when the Indira government nationalised an additional 14 major banks.
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 ).
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]
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India's commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, 6 PBs, 43 RRBs, and 2 LABs.
Bank. The Punjab and Sind Bank is available on the university premises. Guest House. The guest house within the campus has limited accommodation for the staying purpose of parents/individuals visiting the campus. The rooms are comfortable with all modern facilities available at nominal charges.
Regional rural banks (RRBs) are government owned scheduled commercial banks of India that operate at the regional level in different states of India.These banks are under the ownership of the Ministry of Finance, Government of India, Sponsored Bank and concerned State Government in the ratio of 50:35:15 respectively.