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| Banksloanonline » Banks » Punjab & Sindh Bank |
Punjab & Sindh Bank |
| One of the moat prominent banks of northern India, especially Punjab, the Punjab & Sindh Bank has been serving its growing list of clientele since the early 1900's. It was founded by 3 eminent personalities namely Bahi Vir Singh, Sardar Tarlochan Singh and Sir Sunder Singh Majitha who thought of the idea of setting up this bank to cater to the needs of the economically weak sections of the society especially in the erstwhile state of Punjab. |
History of the Punjab & Sindh Bank
Established before the independence of India, the Punjab & Sindh Bank was founded in the spiritual city of Amritsar. The bank is celebrating its hundredth year since it first began operating in the year 1908. It was nationalized in the year 1980 and has since then played an instrumental role in the economy of the country, in a far better magnitude. The sole aim of the setting up of the Punjab & Sindh bank was to uplift the poor and needy and it did manage to achieve this status to a great deal by specifically catering to the people who migrated from Pakistan after the partition in 1947.
A significant number of branch offices and centers of the Punjab & Sindh Bank remained with Pakistan after the separation happened but that did not deter the growth of the bank in any way. It continued to serve the people with renewed energy and today it has achieved the status of being rated as one of the best banks in the category of mid-sized banks in India.
There are about 900 branches of the Punjab & Sindh bank with a majority of them concentrated across the state of Punjab. Its overseas branch in London that was established in the 1970's has also been acquired by the Bank of Baroda after around 20 years of its operation.
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