Punjab National Bank IFSC Code

Punjab National Bank (PNB) is one of India's oldest and largest public sector banks, with a rich history spanning over 130 years. Established in 1894 in Lahore (now in Pakistan), PNB has grown to become a banking giant with over 10,000 branches and 12,000+ ATMs across India. The bank serves millions of customers including individuals, small businesses, agricultural communities, and large corporations.

Historic Legacy

Punjab National Bank was founded on May 19, 1894, by Lala Lajpat Rai and other nationalist leaders with the aim of promoting Indian enterprise and reducing dependence on foreign banks. It was the first swadeshi (indigenous) bank in India, and its founding was a significant event in India's freedom movement. The bank played an important role in financing Indian businesses and supporting the national cause.

After India's independence and partition in 1947, PNB relocated its headquarters from Lahore to New Delhi. The bank was nationalized in 1969 as part of the Indian government's initiative to extend banking services to the masses. In 2020, PNB merged with Oriental Bank of Commerce (OBC) and United Bank of India (UBI), creating the second-largest public sector bank in India.

Banking Products and Services

PNB offers a wide range of banking products catering to various customer segments. Personal banking services include savings accounts with features like zero balance accounts for specific categories, fixed deposits with competitive interest rates, and recurring deposits for systematic savings. The bank offers special schemes for senior citizens, women, and students with additional benefits.

Loan products include home loans, personal loans, vehicle loans, education loans, and gold loans. PNB's home loan interest rates are competitive, and the bank offers various schemes for affordable housing under government programs. The bank is a major lender under Pradhan Mantri Awas Yojana (PMAY), helping millions of Indians realize their dream of homeownership.

Agricultural and Rural Banking

As a public sector bank, PNB has a strong focus on agricultural and rural banking. The bank provides crop loans, farm mechanization loans, allied agriculture loans, and kisan credit cards to farmers across India. PNB is one of the largest agricultural lenders in the country, supporting food security and rural development.

The bank operates numerous rural and semi-urban branches, ensuring banking services reach the agricultural heartland of India. PNB's Business Correspondents extend banking services to remote villages, supporting financial inclusion in underserved areas.

PNB One and Digital Banking

PNB has embraced digital transformation with its 'PNB One' mobile banking app, which offers comprehensive banking services including account management, fund transfers, bill payments, and loan applications. The app supports various payment modes including NEFT, IMPS, UPI, and BHIM. Customers can also open accounts, apply for loans, and access various banking services through the app.

The bank's internet banking platform provides secure access to banking services for retail and corporate customers. PNB has also deployed interactive kiosks and e-lobbies at branches to enhance customer convenience. The bank is continuously upgrading its digital infrastructure to meet evolving customer expectations.

MSME and Business Banking

PNB is a major lender to the Micro, Small, and Medium Enterprises (MSME) sector. The bank offers various loan products designed specifically for small businesses, including working capital loans, term loans, and credit under government schemes like Mudra and Stand Up India. PNB has dedicated MSME branches and specialized teams to support small business growth.

Corporate banking services include project finance, working capital finance, trade finance, and treasury services. The bank supports large infrastructure projects, industrial expansion, and capital investments through its corporate banking division.

Financial Inclusion Initiatives

PNB is committed to financial inclusion and actively participates in government programs aimed at banking the unbanked. The bank has opened millions of accounts under the Pradhan Mantri Jan Dhan Yojana (PMJDY), providing banking access to previously unbanked populations. PNB also implements various government welfare schemes, ensuring benefits reach intended beneficiaries.

International Presence

PNB has an international presence with branches and representative offices in several countries including the United Kingdom, Dubai, Hong Kong, and Nepal. The bank provides remittance services for the Indian diaspora and supports trade finance for businesses engaged in international commerce.

Awards and Recognition

PNB has received numerous awards for its banking excellence, digital innovation, and contribution to financial inclusion. The bank has been recognized for its efforts in implementing government schemes, supporting MSME growth, and promoting digital payments across India.