Punjab National Bank
Punjab National Bank is a state-owned commercial bank .They offer banking products, and also operate credit card and debit card business, bullion business, life and non-life insurance business, and gold coins and asset management business. They are recognized as the Bank offering highest levels of customer satisfaction in Delhi and Chennai. The Bank has the largest domestic network of 4997 offices, including 46 extension counters among Nationalized Banks. They has international presence in 9 countries Punjab National Bank was incorporated in the year 1895 at Lahore, undivided India. The Bank has the distinction of being the first Indian bank to have been started solely with Indian capital. Punjab National Bank was nationalised in July 1969 along with 13 other banks. In the year 1986, they acquired Hindustan Commercial, which added Hindustan's 142 branches to the Bank's network. In the year 1993, they acquired New Bank of India which the GOI. During the year 1996, they developed a packaged for corporate customers for fast remittance of funds from different up-country branches. In March 2002, the Bank came out with their first Initial public offer (IPO) for 5,30,60,700 equity shares of Rs 10 each which resulted in the reduction of the government's shareholding in the Bank. The Bank entered into an alliance with New India Assurance for selling their general insurance products. Also, they opened a representative office in London. During the year, PNB Capital Service Ltd was amalgamated with the Bank. In June 2003, the Bank entered into
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It has a market capitalization of about INR 30312.73 crore. Like other PSU banks, the bank has a major focus on agricultural and rural financing but also has a widespread international presence. The bank has 8.9 crore customers, 6081 branches in India and abroad and a network of 6940 ATMs spread across the
Two individual employees wanted to complete their assignment for their company. But, did their strategy go about accuracy? Karel Svoboda works for Rogue Bank. Svoboda is a credit officer who needed Alena Robles, independent accountant, assists to evaluate and approved his employer’s extensions of credit to clients. In order to complete the task, Svoboda needed to access the nonpublic information about the clients’ personal information related to the company such as their profits and performances. Instead of appropriately following the company policy, Svoboda and Robles created a plan to utilize this data to exchange securities. According to their plan, Robles exchanged the securities of more than twenty unique organizations and benefitted by
The setting for this ghost story was at Sturdivant Hall, in Selma, Alabama in the 1860’s.
Introduction Pramuka Savings and Development Bank (PSDB) was incorporated in 1997 as the first private savings bank in Sri Lanka. Mr. Rohan Perera was the founder of Pramuka Bank and was the founder and chief executive officer of Seylan Bank previously. After resigning from Seylan Bank, Mr. Perera applied for license to incorporate a commercial bank from Central Bank Sri Lanka. But Central Bank only gave license to operate a Savings and Development Bank. But that was also a debatable topic.
HSBC’s total assets were $2.963 trillion in 2015. The bank has 7,200 offices globally and caters to 89 million customers. Those contemplating investing in HSBC shares may want to find out that Forbes magazine rated HSBC the world’s most valuable bank by assets alone. Within HSBC, there are four business groups; these are Commercial Banking, Retail Banking and Wealth Management, Global Banking and Markets, and Global Private Banking. With that in mind, it is safe to say that HSBC has its fingers in many
Economic uncertainty has caused exaggerated criticism of the Federal Reserve. Money and Banking has deepened my understanding of the Federal Reserve and has helped me challenge those criticisms. The U.S. standard of living would drop if people lost faith in the safety of financial institutions. Frederic Mishkin makes the point in the text, The Economics of Money Banking, and Financial Markets (2010) that “Banks and other financial institutions are what make financial markets work. Without them, financial markets would not be able to move funds from people who save to people who have productive investment opportunities.” (p.7). When people lose confidence in the economy this activity freezes or weakens, consequently, asset prices decline, unemployment rises and companies default as was the case of Lehman Brothers in 2008. Money and Banking has taught me that the Federal Reserve is the greatest safeguard to our banking system and therefore, the greatest protector of our wealth. The three most important things I’ve learned in Money and Banking are:
The Ministry of Finance is a Cabinet-level department of Government of Pakistan. It is concerned with the promoting economic growth and economic activities within the country. The Ministry’s executive and political head of authority is known as Finance Minister of Pakistan, Ministry’s executive must be an elected Member of Parliament of Pakistan.
Beginning operations in December 2000, ICICI Prudential’s success has been meteoric, becoming the number one private life insurer within months of launch. Today, it has one of the largest distribution networks amongst private life insurers in India, with branches in 54 cities. The total number of policies issued stands at more than 780,000 with a total sum assured in excess of Rs. 160 billion.
countries and has about forty million customers for today. In most of these countries it supports bank withdrawal service
The invention of money was a major improvement in peoples’ lives. In the past, people usually had to travel all day to find the person who is willing to exchange their goods. In addition, the goods people want to exchange did not have the standard value of measurement. This led to unequal exchanges. Furthermore, it is not convenient to carry heavy goods from one place to another for an exchange. To solve these issues, money will be the only solution. Later, people tend to develop money from cowry shells to credit cards for the convenience and to improve their society.
Most countries have a central banking system and in the United States the central banking system is the Federal Reserve. The Federal Reserve is lead by a board of Governors, which consist of seven governors, appointed by the President and confirmed by the Senate. The Federal Reserve Act was signed into law in 1913. In the 1700’s, before the Federal Reserve Act was signed into law, The Bank of the United States was started by President George Washington to assist with the debt that incurred due to war, funding the government, and to issue currency notes. However, the Bank of the Untied States closed in the early 1800’s because congress did not vote to renew its charter.
After Pakistan nationalised Habib Bank Ltd in 1974, this became the main branch of the family held Habib Bank.
Severe competition and constant changes in technology and lifestyles nowadays have changed the face of banking. Nowadays banks are differentiating between their varied services. Customers do not want to wait in queues or wait on the phone for basic services.
These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January 1921. The State Bank of India was born with a new sense of social purpose aided by the 480 offices comprising branches, sub offices and three Local Head Offices inherited from the Imperial Bank. The concept of banking as mere repositories of the community's savings and lenders to creditworthy parties was soon to give way to the concept of purposeful banking subserving the growing and diversified financial needs of planned economic development. The State Bank of India was destined to act as the pacesetter in this respect and lead the Indian banking system into the exciting field of national development. Following are the products and services of State Bank of India.
Commercial banks are broadly classified into nationalized or public sector banks and private sector banks, with a few foreign banks. The Public sector banks account for more than 92% of the entire banking business in India- Occupying a dominant position in the commercial another 20 banks are the Public sector banks.
After the disaster of BCCI, the Ministry of Finance (Govt. of Pakistan) acquire its three branches and Habib Credit & Exchange Bank was built-in on June 21, 1992 as a public limited company under the Companies order, 1984 and starting banking operations from November 1, 1992. It betrothed in commercial banking and related services as defined in the baking Companies regulation, 1962.