Punjab & Sind Bank
|Headquarters||New Delhi, India|
|Key people||Shri Joginder Bir singh (cmd). Shri K K Sansi & M K Jain, Executive director|
'Punjab & Sind Bank (P&SB) is a major Public Sector bank in Northern India and working 100% on CBS platform. The banks government shareholding is 79.86%. Of its 1283 branches and offices spread throughout India, almost 515 are in Punjab state. The bank's corporate headquarters is in New Delhi. Its net profit is 339.22 crores and net NPA is 2.14% for the year ending 2012-13. The banks net profit for the quarter ending June 2013 is 121.71 crores. Total business of the bank is 1,32,000 crores. Business per employee is 14.35 crore & business per branch is 108.49 crores. Bank has registered a tremendous growth rate in Housing, Auto & Retail loan scheme. Under DBT (Direct Benefit Scheme) bank had opened 81,204 accounts in 43 districts. Recently the bank has launched the PSB-Master card i.e. Atm cum debit card which can be used for the online transactions and for online payments. The bank has started two variants of Rupay cards- Rupay debit card and Rupay Kissan credit cards. After fully CBS environment, bank has been continiously launching different-different products. Today, Punjab & Sind Bank providing Internet banking, Mobile banking, tele banking, and sms alert facility to his customers and giving highest rate of interest on fixed deposits for senior citizens. Punjab & Sind Bank also providing a variety of saving accounts like Basic saving account for students, pension saving account for pensioners, saving general accounts and saving premier account. In current account, the bank providing two types account- current account general and current account premier. Recently, the bank has opened a HUB in Chandigarh city for housing loan proposals. Its tag line is "Where service is a way of life".
In 1908, leading figures such as Bhai Vir Singh, Sir Sunder Singh Majitha and Sardar Tarlochan Singh founded Punjab & Sind Bank in Amritsar to help the weaker sections of society.
On 15 April 1980 Punjab & Sind Bank was among six banks that the Government of India nationalized in the second wave of nationalizations. (The first wave had been in 1969 when the government na stionalized the top 14 banks
At some point in the 1960s Punjab & Sind Bank established a branch in London. In 1991 Bank of Baroda acquired Punjab & Sind Bank's London branch at the behest of the Reserve Bank of India following Punjab & Sind's involvement in the Sethia fraud in 1987.
Since 2004 Punjab & Sind has again shown growth of more than 40% year on year. Recently its IPO received tremendous response from the public and the issue was oversubscribed by more than 50 times. Recently the bank crossed a mark of Rs 1 lac crore in business. Setluj gramin bank is a sponsored bank by Punjab & Sind Bank.