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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 ).
The Punjab Provincial Cooperative Bank Limited (PPCBL), established in 1924, is one of the oldest banks in Pakistan. It has historically served as a specialized bank catering to the needs of housing and agricultural cooperatives.
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 Bank of Punjab was founded in October 1989, pursuant to the Bank of Punjab Act 1989, by the provincial government of Punjab under the leadership of then-Chief Minister Nawaz Sharif. [2] The initiative was part of the provincial government's efforts to utilize its financial resources to support local policy objectives during the resurgence ...
Of the overall loan book of ₹8,300 crores, PMC bank loans to HDIL stood at ₹6,226 crore, about 73% of total loans of the bank. [7] To solve this, HC appointed the three-member committee to oversee the sale of assets of Housing Development Infrastructure (HDIL) to pay the depositors of Punjab and Maharashtra Co-operative Bank (PMC Bank).
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]
With the passage of time, tribal structures became replaced with a more cohesive and holistic society, as community building and group cohesiveness form the new pillars of Punjabi society. [25] [26] The Punjab region's history of warfare and foreign invasions has contributed to a culture of engaging in warfare to protect the land. [27]
Punjabi culture grew out of the settlements along the five rivers (the name Punjab, is derived from two Persian words, Panj meaning "Five" and Âb meaning "Water") which served as an important route to the Near East as early as the ancient Indus Valley civilization, dating back to 3000 BCE. [1]