Punjab and Sind Bank
Punjab and Sind Bank is a nationalized bank India that is located in the Northern part of the country. The bank functions from Arimstar which is a holy city and was founded in 1908.
The idea behind its inception was to uplift the poor from poverty and give them a chance at a better life. The bank is presently run by the Indian government.
The founding fathers of the bank include Bhai Vir Singh, Sir Sunder Singh Majitham and Sardar Tarlochan Singh.
From it humble beginnings, the bank now boasts of about 900 branches 400 of which are located in the Punjab state. The bank's corporate headquarters are located in New Delhi India.
The Punjab and Sind Bank was one of the few banks that had the honor of aiding in the migration of people from Pakistan. The bank was among the six banks that were nationalized by the government of India in 1980 which is when the second wave of nationalizations occurred. In the 70s, the bank established a London branch but it was later acquired by the Bank of Baroda.
Punjab and Sind Bank provides banking services for millions of customers across India. One of its missions to this day is still the commitment to social causes. Its primary aim is to mesh human, financial and technological resources in India. Customer satisfaction and high levels of technological standards are the fuels that drive the bank.
Services on offer from the bank include savings and checking accounts, loans, life insurance, remittance services and credit cards among others. The bank has plans to offer shares in an IPO once its owners, the Indian government, give the go ahead. Its over 900 branches ensure that these services are spread well across the country. A survey conducted by KPMG in 2008 rated this bank as the number one 'medium sized best banks' in India.
Other services available to customers from this bank include ATMs that offer 24*7 accesses to funds, locker facilities, RTGS/HEFT, credits cards and PSB-eFunds transfer among others. The bank also offers international banking services in its swift branches, gold card scheme, HRI services and IBDs.
Seeing as the banks founding principles lie in the empowerment of the disadvantages, there are schemes that the bank still supports like Credit flow to Minority communities of India, Debt Relief Scheme 2008, the Agricultural debt waiver and the Prime Minister's National Relief Fund.