Punjab National Bank (PNB) is one of the oldest and largest public sector banks in India.

It provides banking and financial services to individuals, businesses, farmers, and various organisations across the country.

PNB was established in 1894 and started its banking operations on 12 April 1895 in Lahore, which is now part of Pakistan. It is known as India’s first Swadeshi Bank because it was established with Indian capital and managed by Indians.

Today, Punjab National Bank is owned mainly by the Government of India and provides services such as savings accounts, deposits, loans, digital payments and other banking facilities.

History of Punjab National Bank

The history of Punjab National Bank began during British rule in India.

At that time, many banks operating in India were controlled by British or other foreign interests. Some Indian leaders and businessmen wanted to establish a bank that would be managed by Indians and support the country’s economic development.

As a result, Punjab National Bank was established on 19 May 1894 in Lahore.

The bank officially started its operations on 12 April 1895 with an initial working capital of ₹20,000.

Several well-known personalities were associated with the establishment of PNB, including:

• Lala Lajpat Rai: Freedom fighter and one of the important personalities associated with the bank’s early development.
• Sardar Dyal Singh Majithia: One of the founding directors and the first Chairman of PNB.
• Lala Harkishan Lal: A businessman and one of the founding directors of the bank.
• E. C. Jessawala: A businessman who was also associated with the bank’s establishment.

Lala Lajpat Rai was also the first person to open an account with Punjab National Bank.

Punjab National Bank After Independence

When India was divided in 1947, Lahore became part of Pakistan. As a result, Punjab National Bank shifted its registered office to Delhi.

The bank faced many difficulties during Partition, including the closure of several branches in areas that became part of Pakistan.

However, PNB continued its operations in India and gradually expanded to different parts of the country.

Nationalisation of Punjab National Bank

Punjab National Bank was originally established as a private bank.

On 19 July 1969, the Government of India nationalised 14 major commercial banks, including Punjab National Bank.

Nationalisation means that the government takes ownership and control of a privately owned bank.

The main purpose of bank nationalisation was to make banking services available to more people, especially in rural areas, and support agriculture, small businesses and economic development.

After nationalisation, PNB expanded its banking services to more cities, towns and villages.

Merger of Banks with Punjab National Bank

Over the years, several banks have been merged with Punjab National Bank.

One of its biggest mergers took place on 1 April 2020, when two other public sector banks were merged with PNB.

These banks were:

1. Oriental Bank of Commerce (OBC)
2. United Bank of India (UBI)

After the merger, the branches, customers and banking operations of these two banks became part of Punjab National Bank.

The merger helped PNB expand its banking network and strengthen its presence across India.

Main Banking Services of Punjab National Bank

Punjab National Bank provides several financial services for individuals, businesses and organisations.

Digital Banking Services of PNB

Punjab National Bank provides digital banking facilities that allow customers to perform many banking activities without visiting a branch.

Internet Banking

Through PNB Internet Banking, customers can access their bank accounts online and perform activities such as checking balances, transferring funds and viewing transaction details.

PNB ONE Mobile Banking App

PNB ONE is the official mobile banking application of Punjab National Bank.

Through this app, customers can use several banking services, including:

• Checking account balances
• Transferring money
• Making UPI payments
• Paying bills and recharging mobile numbers
• Managing deposits
• Accessing account statements
• Managing debit and credit card services

UPI and Online Payments

PNB supports digital payment services such as UPI, NEFT, RTGS and IMPS.

These services allow customers to transfer money electronically, subject to the applicable banking rules and transaction limits.

Recruitment and Career Opportunities in PNB

Punjab National Bank also provides employment opportunities for candidates who want to build a career in the banking sector.

Recruitment takes place through different methods depending on the post. Some common positions include:

Candidates should check the official recruitment notification for eligibility, age limit, selection process and other details.

Official PNB Recruitment Website: pnb.bank.in/Recruitments.aspx

Official Details of Punjab National Bank

Conclusion

Punjab National Bank is one of India’s oldest public sector banks and has played an important role in the development of the country’s banking system.

From its beginning in Lahore in 1895 to becoming a major public sector bank, PNB has expanded its services to millions of customers across India.

Apart from providing banking and financial services, PNB is also an important organisation for candidates preparing for banking recruitment examinations such as IBPS PO, IBPS Clerk/CSA and Specialist Officer examinations.

FAQs on Punjab National Bank (PNB)

Here are answers to some commonly asked questions about Punjab National Bank, its history, ownership, banking services and recruitment. These answers will help you understand the important details and clear up common doubts.