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Have you heard the term PNB in your studies or news discussions? Knowing its full form is important, especially for students preparing for bank exams, interviews, or GK quizzes. The PNB full form often appears in competitive exams, so it’s useful to understand both the meaning and importance of PNB in India’s banking sector. This guide from Infinity Learn explains PNB in a simple and easy way, helping you understand its relevance in academics and daily life.
What is the full form of PNB?
The full form of PNB is Punjab National Bank. It is one of India’s leading public sector banks, established on 12 April 1895 in Lahore. PNB was the first bank in India to be fully owned and managed by Indians during British rule. Today, its headquarters are located in New Delhi.
As of 1 April 2020, following the merger with United Bank of India and Oriental Bank of Commerce, PNB serves over 180 million customers through 10,910 branches and 13,000+ ATMs. The bank provides a wide range of financial services, including corporate banking, personal banking, foreign exchange services, and capital market solutions across multiple sectors.
PNB History
Under the Indian Companies Act, Punjab National Bank (PNB) was founded in Lahore on 19 May 1894. The bank was established by prominent leaders including Lala Lajpat Rai, Lala Harkishan Lal, Dyal Singh Majithia, Shri E.C. Jessawala, Shri Kali Prasanna Roy, Shri Prabhu Dayal, along with other supporters of the Swadeshi movement.
In its early years, Lala Lajpat Rai took a leading role in managing the bank. PNB began operations on 12 April 1895 in Lahore and expanded by opening branches in Karachi and Peshawar by 1904.
- In 1939, PNB acquired Bhagwan Dass Bank Limited.
- In 1961, it took over Universal Bank of India.
- PNB’s Rangoon branch in Burma was nationalized by the Government of Burma in 1963.
- After the Indo-Pak war of 1965, the Pakistan government confiscated PNB offices and other Indian bank branches in Pakistan.
- On 19 July 1969, PNB was nationalized by the Government of India.
- PNB expanded internationally by opening its first London branch in 1978.
- In 1988, it acquired Hindustan Commercial Bank Limited.
- The New Bank of India, nationalized in 1980, was merged with PNB in 1993.
- PNB expanded globally, opening a registered office in Almaty, Kazakhstan, in 1998.
- In 2003, PNB acquired Nedungadi Bank Ltd. from Kozhikode, with its branches converted into PNB branches.
- In 2006, PNB opened a branch in Uttarakhand and partnered with Indian Airlines for online ticket booking.
- In 2008, it partnered with Networth Stock Broking Ltd (NSBL) for internet trading services.
- In 2011, PNB acquired a 33% stake in MetLife, expanding its presence in the insurance sector.
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Who founded the Punjab National Bank?
Punjab National Bank (PNB) was established in 1895 by Lala Lajpat Rai, a renowned freedom fighter and key figure in India’s independence movement. It began as a small regional bank in Lahore (now in Pakistan, then part of British India), with the aim of providing financial services to the people of the Punjab region.
Over time, PNB expanded rapidly, establishing its presence in major cities and towns across India and setting up branches and representative offices in various countries worldwide. Today, PNB is one of India’s oldest and largest public sector banks, playing a crucial role in the nation’s financial system and economy.
Why is PNB Important?
Punjab National Bank (PNB) is one of India’s largest government-owned banks, offering a wide range of banking, loan, and financial services nationwide. Knowing the PNB full form is important for students preparing for banking and finance exams. With a rich history and a strong network, PNB serves both urban and rural customers and is often compared to other major public sector banks like SBI and BOB.
Objectives of Punjab National Bank
- Promoting Economic Development:- PNB supports India’s economic growth by offering credit and financial services, especially to small and medium enterprises (SMEs), helping businesses expand and succeed.
- Serving Public Financial Needs:- PNB caters to the diverse financial needs of individuals by offering a wide range of customized banking products and services to meet their goals.
- Ensuring Financial Stability and Integrity:- PNB follows sound financial practices and maintains a strong capital base to ensure financial stability and operational integrity.
- Driving Growth and Profitability:- The bank focuses on expanding its customer base, enhancing lending and investments, and adopting innovative technologies to achieve steady growth and profitability.
- Prioritizing Customer Satisfaction:- PNB is committed to delivering high-quality services with quick and efficient customer support, ensuring customer satisfaction remains a top priority.
Services provided by PNB
Punjab National Bank (PNB) is a government-owned financial institution in India, providing a comprehensive range of banking and financial services for individuals, small businesses, and large corporations. Here’s an overview of its key offerings:
- Deposit Accounts- PNB offers various deposit options such as savings accounts, current accounts, and fixed deposits to cater to the diverse financial needs of its customers.
- Loans- PNB provides multiple loan facilities including personal loans, home loans, car loans, and business loans to help customers meet personal and business financial goals.
- Credit Cards- PNB offers a selection of credit cards with attractive features like cashback, reward points, discounts, and lifestyle benefits, designed to suit different customer preferences.
- Insurance Services- In partnership with reputed insurance companies, PNB offers life insurance, health insurance, and travel insurance options to ensure customers have financial security.
- Investment Options- PNB provides mutual funds, fixed deposits, and government securities, allowing customers to make safe and growth-oriented investments.
- Foreign Exchange Services- The bank offers foreign exchange facilities like currency exchange, international remittances, and travel cards for customers dealing in foreign currencies.
- Digital Banking- PNB makes banking convenient through its internet banking, mobile banking apps, UPI services, and other digital platforms for easy account management and secure transactions.
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FAQs on PNB Full Form
What is the full form of PNB?
PNB stands for Punjab National Bank, a leading public sector bank in India.
Is PNB government or private?
PNB is a government-owned (public sector) bank, with equity held by the Government of India
Who is the CEO of PNB?
Shri Ashok Chandra assumed the position of Managing Director & CEO of Punjab National Bank on 16 January 2025
What is the salary in PNB?
Employee salaries at PNB vary by role: Freshers earn around ₹6–9 Lakh/year (e.g. Probationary Officer) and senior roles like Deputy General Manager can earn up to ₹22–45 Lakh/year.
