What is PNB | PNB full form

There are many banks present all over India, and PNB is one of them, like any other bank, they provide different types of services. In exactly the same way, PNB also provides various types of services to its customers. What is PNB

By the way, no matter what the bank is, if it is famous by the short name of its name, then it does not matter if you are a customer of that bank. So its full forms will be found on the passbook and debit card documents of that bank. All banks also mention the full form of their short form at all places.

What is PNB

The full form of PNB is Punjab National Bank, this bank was also established during the British rule, but was completely established by Indians. Because at that time many banks were also established by the British. Like the reserve bank (RBI), which is India’s largest bank, is the bank of banks. Currency printing etc. handles all matters, all other banks also have to follow the guidelines of RBI.

And perhaps you would be surprised to know that the RBI was established by the Royal Commission (Hilton Young Commission) of the British Government. However, after independence, RBI was declared a government bank. And the entire banking system is handled by RBI only. And yes PNB was established long before RBI and was doing its work.

When and by whom PNB was established

PNB was founded by Lala Lajpat Rai PNB was established on 19 May 1895, but started commercially on 12 April 1895.

Everyone knows that the banking system in India was started in 1770. But after independence and partition, many changes had to be made, because any service, any bank, could have been anywhere in the whole of India at that time. And gradually all the banks and other services were increasing. Then whether it was started by East India Company or by any Indian.

PNB was established in Lahore in 1894 and at present Lahore is a part of Pakistan. Since India was not partitioned when PNB was established. Rather, at that time the country called Pakistan was not present in the world, so it cannot be said that PNB was held in Pakistan but only in India.

Sh. Dayal Singh Majithia was the first chairman of PNB, Lala Harkishan Lal was the first board secretary, Lala Lajpat Rai’s brother joined the bank as manager. Whose salary was 320 per month, and at that time his staff included a total of 9 people. And the total authorized capital of PNB was 200000 INR.

For the success of anything, it depends on the strategy and management of its directors. This is the reason that PNB kept on improving itself gradually, and today it is doing its business as a big bank.

PNB is also called the first indigenous bank, so far 9 other banks have merged in PNB. Which is a pretty big deal, although the merge is a one time thing. Because different types of mergers keep happening like SBI was formed from the merger of 3 different banks. But in the banking history of PNB, till now 9 banks have merged with PNB. Recently in 2019 – 2020 two big banks Oriental Bank of Commerce and United Bank of India merged.

PNB is the second largest public sector bank in India and SBI is on the first number.

From 1941 to 1946, PNB’s empire grew enormously. PNB did a lot of progress and did business very fast, as a result of which it happened that by 1946, PNB had 278 branches, the deposit capital increased up to 62 crores. definitely this was the result of a good strategy and management.

Although the business of PNB had increased a lot by 1946, but that time was also close. When unbroken India was to be partitioned. After partition, PNB had to leave Lahore and shift to Delhi. And it is very sad that after partition PNB had to close its 92 branches, which were in the part of Pakistan.

Who is the CEO of PNB

Mr. CH. SS Mallikarjuna Rao is currently the Managing Director & CEO of PNB.

Executive Directors

Sanjay Kumar, Vijay Dubey, Agye Kumar Azad

Director

How many types of accounts are there in PNB

Not only PNB, whatever the bank may be, there are many account types present in all the banks. In the same way, PNB also provides different types of account types for its customers. Which are mentioned below.

Saving account

PNB is full of savings accounts PNB has dozens of savings accounts. Although most of the people use General saving account only. Because in this account there are all kinds of services suitable for the customers. And general savings account can be used by all kinds of people.

  1. PNB Unnati Saving Fund Account
  2. PNB Saving Account Product For Premium Custumers
  3. PNB SF Prudent Sweep Deposit Scheme for Individuals
  4. PNB SF Prudent Sweep For The Accounts Of Institutions
  5. PNB Junior Sf Account
  6. PNB Basic Saving Deposit Account
  7. PNB Rakshak Scheme
  8. Scheme For Providing Overdraft Facility To Pensioners
  9. PNB Power Savings
  10. PNB Samman Saving Account
  11. PNB MySalary Account
  12. Premium Saving Account PNB Best Customer
  13. PNB Prathan Saving account

PNB current account

  1. PNB MyBiz Plus Current Account (Smart Banking Current Account)
  2. PNB MyBiz Account (Current Account General)
  3. PNB Merchant Current Account
  4. PNB Escrow/RERA Account Scheme

Fixed Account

  1. Annuity Term Deposit Scheme For Victims of Road Accidents
  2. PNB Utam – Non-Caliable Deposit Scheme
  3. PNB Recurring Deposit  Scheme (E-RD)
  4. Schemes Covered (Under E-FD)
  5. FD Scheme for Road Accident Victims
  6. Recurring Deposit Scheme
  7. PNB Anupam Term Deposit Scheme
  8. PNB Girls Education
  9. PNB Capital Gain Account Scheme
  10. PNB Multi Benefit Term Deposit Scheme
  11. PNB Scheme for Road Accident Victims
  12. PNB Special Recurring Deposit Product
  13. PNB Special Term Deposit Scheme
  14. PNB Sugam Term Deposit Plan
  15. PNB Ordinary Term Deposit Scheme
  16. PNB Varshik Aay Yojna (VAY) Deposit Scheme
  17. PNB Tax Saver Fixed Deposit  Scheme
  18. PNB Pranam Fixed Deposit Scheme
  19. PNB Mibor Linked Notice Deposit Scheme
  20. PNB Floating Rate Fixed Deposit Scheme
  21. PNB Bulk Fixed Deposit Scheme (Above Rs. 10 Crore)
  22. PNB Growth Fixed Deposit Scheme
  23. PNB Bulk Fixed Deposit Scheme
  24. PNB NRE Rupee Sugam Term Deposit Scheme
  25. PNB NRO Sugam Term Deposit Scheme

Number of Employees

PNB provides its services all over India. For which PNB has 11000+ branches and 13000 ATM machines across India. The number of employees of PNB is around 103000, if you are also willing to work in PNB, you can check by visiting https://www.PNBindia.in/Recruitments.aspx, and apply for available posts.

You have got basic information about PNB bank. But if you need more information about PNB. About which has not been mentioned here, you can get information about it by visiting https://www.PNBindia.in/ . Or if you want, you can comment about that in this post as well, the information will be linked in this post.

In this article you learned what is PNB and PNB full form. We hope this information will prove useful for you.

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