Shri Pranab Mukherjee, Hon’ble Union Finance Minister, launching 1111 ultrasmall branches of Punjab National Bank. Also seen in the photograph are Shri K.R.Kamath, CMD, PNB alongwith Shri Rakesh Sethi and Smt Usha Ananthasubramanian, EDs of the Bank
Punjab National Bank (PNB) celebrated its 118th Foundation Day on April 13, 2012 at a function held at New Delhi which was graced by Hon’ble Finance Minister, Shri Pranab Mukherjee. Sh. K.R. Kamath, Chairman & Managing Director of Punjab National Bank presided over the function.
On the occasion, Hon’ble Finance Minister laid the foundation stone and unveiled the model of the PNB’s New Corporate Office. The State of Art Building at Dwarka will be PNB’s eighth abode for its Head Office and is aimed at housing all the Head Office Divisions of the Bank in one building. This will enhance efficiency in the working of various constituents of the Head Office which shall use the latest innovations in green architecture to make a beautiful & energy efficient environment for working.
Hon’ble Finance Minister also inaugurated PNB’s 5555th branch office at PANCHTHUPI, Dist Mursheedabad West Bengal to commemorate the Bank’s 118th Foundation Day. In addition, he launched one thousand one hundred eleven (1111) Ultra Small Branches of Punjab National Bank under Financial inclusion. Hon’ble Finance Minister congratulated the Bank on these multiple initiatives. He said that Bank established by a group of patriots led by late Shri Lala Lajpat Rai truly captured the spirit of nationalism. He mentioned that PNB had an excellent track record built over 118 years. However, it faced challenges in the form of partition of the country when it had to shift its Head Office from Lahore to Delhi, Nationalisation, Liberalisation, Globalisation, Global Crisis of 2008 etc. Hon’ble Finance Minister praised the prudent banking of PNB during those difficult times. He mentioned that the objective of 12th Five year plan is “Faster and Sustainable inclusive growth”. Towards this, he complimented PNB for 100% covering all its allocated 4588 villages under financial inclusion well before March 2012. He said that Govt has infused capital of around Rs 32000 crore and proposes to more than Rs 15800 crore this fiscal to equip PSBs to face the challenges of Basel-III norms and for preparing them for global best practices. He also added that 8.4% GDP growth has been achieved by the economy even after Euro Zone crisis.
The Chairman & Managing Director of PNB, Mr. K.R. Kamath, spoke about PNB’s contribution in the Indian Economy which spans over a century. This has made PNB the leader in Indian Banking Industry in the Nationalized Bank group and won it various awards and accolades. Business India adjudged PNB as the Best Bank and FICCI IBA have awarded PNB as the Overall Most Productive Bank for the year 2011. Mr. Kamath further reiterated Bank’s commitment towards nation building by providing all customer friendly financial products. He expressed his gratitude to all the stakeholders for their support.
The event started with a recital of Vandana by Smt. Usha Ananthasubramanian, Executive Director of the Bank. To conclude, Shri Rakesh Sethi, Executive Director of the Punjab National Bank proposed the vote of thanks and reaffirmed the Bank’s commitment towards working for economic development of the nation and caring for all the sections of the society.
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