Search results
Results From The WOW.Com Content Network
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.
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.
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.
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]
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 ).
A review of the RRBs in August 2009 by the Union Finance Minister revealed that a large number of RRBs had a low Capital to Risk weighted Assets Ratio (CRAR). A committee was constituted in September 2009 under the chairmanship of K C Chakrabarty, [4] the deputy governor of the Reserve Bank of India (RBI) to analyse the financials of the RRBs and suggest measures, including re-capitalisation ...
The Punjab Agricultural University is a leading institution globally for the study of agriculture and played a significant role in Punjab's Green Revolution of the 1960s–70s. Alumni of the Panjab University, Chandigarh include Manmohan Singh , the former Prime Minister of India , and Dr. Har Gobind Khorana , a biochemistry nobel laureate .
The Punjab Banking Company (1889) was a bank founded in the year 1889 in British India. The bank became defunct in the year 1916, when it was acquired by the Alliance Bank of Simla . [ 1 ]