Punjab & Sind Bank Company History and Annual Growth Details

The Bank was incorporated as ‘The Punjab and Sind Bank Limited’ on June 24, 1908, with its registered office situated at Hall Bazar, Amritsar, Punjab, India. The Bank is one of the six banks which were nationalized on April 15, 1980.

The Bank was constituted as a ‘corresponding new bank’ on April 15, 1980, as defined under Section 2(b) of the Bank Acquisition Act. The central and administrative office of the Bank at the time of constitution under the Bank Acquisition Act was situated at B-45/47, Connaught Place, New Delhi 110 001.

For details in relation to the Bank’s activities, services, products, market of each segment, its growth, technology, market, managerial competence, standing with reference to prominent competitors,

The Bank currently has only one shareholder, i.e. the President of India, acting through the Ministry of Finance, GoI.

2000 - The Bank has launched its bullion trading scheme on persistent demand from
North Indian traders, especailly in view of the Diwali festival season.

- The Bank has been appointed as arranger and collecting banker for State Bank
of India's India Millennium Deposit scheme slated to open on October 21

2001 - NS Gujaral has been appointed as the chairman and managing director of the
Delhi-based Punjab & Sind Bank.


2003

-The bank has launched a special festival loan scheme for meeting the expenditure for items
such as purchase of consumer goods or furnishing of house or shops

2004

-Mr. V K Chopra, CMD, Small Industries Development Bank of India, appointed as CMD of Punjab & Sind Bank

-P&SB appoints new chairman R S Gujral

-Punjab and Sind Bank (PSB) and ICICI Bank on July 02 announced the launch of co-branded credit card that will be available in three variants - Gold, Silver and Blue credit card

-Punjab and Sind Bank ties up with Aviva Life

2010

- Punjab and Sind Bank (PSB) has inked a pact with Wipro, for a 10 year contract for comprehensive IT outsourcing services for PSB.

2011
-Punjab and Sind BankTie-up with HCL for Financial Inclusion.
-Punjab and Sind Bank has recommended a dividend @ Rs.2/- (Rupees Two only) per equity share of Rs.10/- each.

2012
-PSB has recommended a dividend @ Rs. 2/- (Rupees Two Only) per equity share of Rs. 10/- each.

2013
-PSB has recommended a dividend @ Rs. 2.68 (Rupees two and paise sixty eight only) per equity share of Rs. 10/- each.

2014
-PSB has recommended a dividend @ Rs. 0.60 (paise sixty only) per equity share of Rs. 10/- each .

2015
-Punj. & Sind Ban - Authorised KMPs to determine materiality of events/information

2019
-Punjab & Sind Bank Amalgamation of Punjab Gramin Bank, Malwa Gramin Bank and Sutlej Gramin Bank.