Punjab National Bank

YEAR                                                             
 EVENTS
 
 1996 - A package was developed for corporate customers for fast
 remittance
              of funds from different up-country branches to the
 controlling office.
 
            - The concept of 'Chief Host' introduced by the bank for
 resolving customers' 
               complaints in the minimum possible time, has resulted
 in substantial improvement
               in customer service.
 
             - The company also entered into new activity of arranging
 Mergers, Acquisitions and 
               Takeovers which has been quite rewarding in terms of
 return.
 
 2000 - The Credit Rating Information Services of India has suspended
 its
              rating for the fixed deposit programmes of Amruntanjan
 Finance.
 
            - The Bank has introduced a scheme for providing finance
 against
               mortgage of immovable property.
 
            - Punjab National Bank and Bank of Baroda will tie up to
 form a subsidiary
              for a foray into life insurance business, banking
 industry.
 
            - PNB has launched a gold import scheme.  The gold will be
 imported through
              an arrangement with Commerzbank.
 
            - ICRA has assigned an `LAAA' rating to Punjab National
 Bank's (PNB) Rs 240 
              crore long-term subordinated bond issue (Series V).
 
            - The Bank is the first amongst the public sector banks to
 come out with Voluntary
               Retirement Scheme.
 
            - Punjab National Bank has become the latest big player to
 enter the credit card
              market.  The card will have two variants -- Gold and
 Classic.
 
            - An International Co-branded Credit Card of Punjab
 National Bank and Hongkong
              & Shanghai Banking Corporation has been launched in New
 Delhi.
 
            - Primary market dealers PNB Gilts Ltd is launching a
 retail scheme in the first week of
              January to rope in individuals as investors for govt.
 securities.  It has recently tied up with 
              Punjab National Bank and will be using the huge network
 of 2000 branches of the bank
              all over the country for distribution and receipt of
 forms for investment in govt. securities.
 
           - Mr. T S Narayansami has taken over as executive director
 of Punjab National Bank.
 
 2002
 
 - Punjab National Bank incorporated its branch in M.G. Road,
 Bangalore named as Mid-Corporate Branch (MCD) to provide its
 corporate clients with a credit limit of Rs 3.5 crore and above.
 
 - Punjab National Bank is in a joint venture with Infosys for the
 implementation of a Centralised Banking Solution for it. The bank
 plans to implement Centralised Banking Solutions establishing
 connectivity between its branches to cover 1,500 to 2,000 branches
 and all ATMs by 2004.
 
 - -Punjab National Bank has informed that the first AGM of the
 shareholders of the Bank was held on August 05, 2002. The Chairman
 declared the following candidates elected as Directors:
 Dr Pritam Singh , Sh Mohanjit Singh.
 
 - Punjab National Bank has informed that Ms. Malathi Mohan, Asstt.
 General Manager has been nominated as Company Secretary in place of
 Mr. Ramesh Kumar Kochar. 
 
 - Punjab National Bank has launched a special loan scheme called
 'Fin-Basket', a composite package of retail loans, for a minimum size
 of Rs 5 lakhs.
 
 - Punjab National Bank (PNB) has been presented with the `Best Bank
 Award' for excellence in banking technology.
 
 - Punjab National Bank (PNB) tied up with Cisco Systems for
 networking 3,870 branches as part of its Rs 150 crore plan.
 
 2003
 
 - Punjab National Bank (PNB) has taken over Kozhikode-based Nedungadi
 Bank Ltd (NBL) on Feb 1. All the 174 branches of the previous private
 bank are now working as PNB branches
 
 - Punjab National Bank (PNB) has entered into an alliance with New
 India Assurance for selling its general insurance products.
 
 - Punjab National Bank has informed that Shri V K Sibal, a director
 on the Board of the Bank has resigned from the Board. Ministry of
 Finance, Govt. of India, vide its letter dated May 09, 2003 has
 conveyed the acceptance of resignation w.e.f. May 07, 2003.
 
 - Punjab National Bank has informed the Exchange that the Bank has
 signed a Memorandum of Understanding (MOU) on June 24, 2003 with
 Principal Financial Services Inc. (USA) and Vijaya Bank for joint
 venture partnership in Life Insurance, Pensions and Asset Managements
 (MF) business.
 
 - Punjab National Bank (PNB) has formed a strategic alliance with
 Infrastructure Leasing and Financial Services Ltd (IL&FS) to set up a
 private equity fund for investing in domestic companies.
 
 - Punjab National Bank has informed that it is setting up its
 Representative Office at London. The office was scheduled to be
 inaugurated on August 21, 2003. Further, the Bank has been granted
 license to open Offshore Banking Unit at Seepz, Mumbai.
 
 - New Delhi: Punjab National Bank has entered an agreement with
 Oriental Bank of Commerce, Indian Bank, UTI Bank and Global Trust
 Bank for sharing ATMs spread across the country.
 
 -Inks pact with Principal Financial Group of USA to foray into
 insurance business and pension fund
 
 -Principal Financial Group (Mauritius) Limited enters into a joint
 venture agreement with Punjab National Bank (PNB) and Vijaya Bank to
 sell long-term mutual funds and related financial services in India.
 The new company to be called Principal PNB Asset Management Company
 (in association with Vijaya Bank)
 
 -Receives approval from RBI for opening an Offshore Banking Unit
 (OBU) at SEZ, Noida (U.P)
 
 -Punjab National Bank (PNB) has decided to amalgamate its merchant
 banking arm 'PNB Caps' with itself.
 
 -PNB unveils a scheme to help SSIs to get ISO 9000.
 
 - Board of Directors approved investment of Rs 250 million in the
 units of 'Leverage India Fund' managed by IL&FS Investments Managers
 Ltd, and has entered into MoU with IL&FS and IL&FS Investment
 Managers to sponsor the Fund.
 
 -Shri K D Khera, Director representing Non Workmen Employees of the
 bank, ceases to be Director on the Board of the Bank wef October 31,
 2003 on attaining age of superannuation.
 
 -The Ministry of Finance, Government of India, vide their
 notification dated November 25, 2003, Shri Anand Swarup Agarwal has
 been nominated as part-time non official Director of the bank for a
 period of 3 years from the date of notification.
 
 2004
 
 -Ministry of Finance, Government of India vide their notification
 dated January 9, 2004 has informed that Dr. K.V. Rajan, Chief General
 Manager, RBI, Kanpur has been nominated as RBI nominee director of the
 Bank in place of Sh. V.K. Sharma with immediate effect.
 
 -PNB acquires  Hindustan Transmission Product Limited (HTPL) assets
 under Sarfaesi
 
 -IFCI merger with PNB's would help each other
 
 -Delhi based Punjab National Bank (PNB) and Bangalore-based Vijaya
 Bank enter into a four-way partnership with Principal Financial of
 the US and  Berger Paints to set up an insurance broking company
 
 --Export Credit Guarantee Corporation of India Ltd (ECGC) and Punjab
 National Bank (PNB)  sign a corporate agency agreement for marketing
 ECGC's export credit insurance products through the network of PNB
 branches
 
 -Punjab National Bank has informed that the bank has signed agreement
 with M/s NCR Corporation India Pvt Ltd for providing clearance of
 Intercity cheques within 48 hours after the cheque is presented, at
 selected centers using cheque truncation, where there is Image based
 Cheque Clearing System.
 
 -Punjab National Bank (PNB) has enlisted the services of computer
 industry giant Intel to evaulate its current and future technolgical
 requirements. An MoU was signed for the deployment of various
 IT-related solutions today between the bank and Intel.
 
 -ICICI Bank and Punjab National Bank have signed a memorandum of
 understanding (MoU) for ATM network sharing, giving customers an
 access to over 2,200 ATMs in India
 
 - PNB accomplishes RTGS installation
 
 - PNB implements Loans and Advances Data Desk for Evaluations and
 Reports, (LADDER) system  for rationalisation of returns, asset
 classification and provisioning, credit monitoring and NPA
 management
 
 - LP Agrwal, Ranjan Dhawan, I D Singh, P K Mitra, K S Bajwa, V P
 Chowdhary and B P Chopra appointed as General Managers on June 9,
 2004
 
 - PNB mandates TCS to deploy HR Solutions
 
 -Tata Consultancy Services (TCS) has joined hands with PeopleSoft to
 handle a Rs 5-10 crore worth project mandated by Punjab National Bank
 (PNB) to implement human capital management and payroll solution.
 
 -Punjab National Bank has informed that the Bank has entered into
 money transfer arrangement with Western Union Through their agent M/s
 Weizmann Forex Ltd
 
 -Punjab National Bank has informed that the Bank branch at Kabul,
 Afghanistan has commenced soft opening on July 26, 2004
 
 -PNB in ally with NMCE launches new loan scheme
 
 -PNB JV with Principal Financial Group of USA
 
 -Tractor manufacturer Escorts tied up with Punjab National Bank for
 sponsorship of a farmer training centre in Haryana
 
 -Launches corporate internet banking facility on November 18, 2004.
 
 
 2005
  -Government of India, Ministry of Finance (Banking Division), New
 Delhi vide its Notification dated April 30, 2005, appoints Shri S C
 Gupta as Chairman & Managing Director (CMD) of the Bank.
 
 -PNB unveils ATM at Edappal
 
 2006
 
 -Punjab National Bank today tied up with MasterCard International to
 launch a signature-based debit card.
 
 -PNB opens branch in Uttaranchal
 
 -Punjab National Bank (PNB) has tied up with Indian Airlines for
 online booking of air tickets.
 
 -Punjab National Bank has informed that Shri Rakesh Singh, Joint
 Secretary (IF), Ministry of Finance has been appointed Government
 nominee Director on the Board of the Bank w.e.f. October 20, 2006
 under Clause 9(3)(b) of the Banking Companies (Acquisition and
 Transfer of Undertakings) Act, 1970.
 
 -PNB ties up with IDBI Capital
 
 -Punjab National Bank has informed that Sh. A S Agarwal, Government
 nominee Director on the Board of the Bank w.e.f. November 25, 2003,
 has demitted the office on November 24, 2006 on completion of his
 tenure of 3 years.
 
 2007
 
 -Punjab National Bank has appointed Shri Ramesh Kumar Kochar as
 Company Secretary of the Bank.
 
 - Punjab National Bank has informed that the Government of India,
 Ministry of Finance, Department of Economic Affairs (Banking
 Division), New Delhi vide Notification dated June 06, 2007 has
 appointed Shri. Jag Mohan Garg as a Whole-time-Director (designated
 as Executive Director) on the Board of Punjab National Bank from the
 date of his taking over charge of his post or until further orders or
 till the date of his superannuation i.e. upto July 31, 2010 whichever
 is earlier.
 
 -Punjab National Bank is entering into an MoU with India
 Infrastructure Finance Co. (IIFC) on October 17, 2007 with an aim to
 extend its cooperation and support to IIFC in areas of creating a
 deal flow of infrastructure projects.