Punjab National Bank is India's Second Largest Public Sector Bank
News Desk, News Nation 360 : As notified by the Reserve Bank of India, the amalgamation of Punjab National Bank, United Bank of India and Oriental Bank of Commerce has come into effect on 1st April 2020, to create the second-largest nationalized bank of the country - both in terms of business and branch network. The synergy from the amalgamation will create a globally competitive, next-generation bank, PNB 2.0. All nation-wide branches of United Bank of India and Oriental Bank of Commerce will now function as Punjab National bank (PNB) branches while all customers, including depositors, will be treated as PNB customers. The amalgamated bank will have a wider geographical reach through 11,000 plus branches, more than 13,000 ATMs, one lakh employees and a business mix of over INR 18 lakh crore. Commenting on the occasion, CH. S. S. Mallikarjuna Rao, MD & CEO of Punjab National Bank said that they are honoured to be a part of this historic moment. The new amalgamated entity - built on the illustrious tradition of legacy, ethos and trust – will also be an advanced new generation bank offering diversified products and highly personalized services to their customers. The bigger geographical footprint will help them serve their customers more effectively and efficiently. In terms of customer experience, PNB 2.0 will endeavour to be a true next-generation bank with state-of-art products and services, created and delivered by the most modern technology. In the initial phase itself, PNB 2.0 will be offering specified inter-operable services through all branches and all platforms including Mobile and Internet Banking. To smoothen the customer transition, the Bank has appointed Bank Sathi at all branches/zones/head office (of all three banks) who will address customer concerns and assist them in choosing the right products and services.
Report : Anustup Kundu