Founding Fathers
1. Sardar Dyal Singh Majithia - A western educated social reformist, Majithia founded the Tribune Newspaper and was part of PNB's first Board of Directors.
2. Lala Harkishen Lal - He had a passion for establishing commercial enterprises. One of the first directors of PNB, he also started the People's Bank and Bharat Insurance.
3. Lala Lajpat Rai - A well known freedom fighter, Lala Lajpat Rai was known as Punjab Kesari and was on third of the nationalist triumvirate Lal Bal Pal, the other two being Bal Gangadhar Tilak and Bipin Chandra Pal. Lala Lajpat Rai was one of the main founders of PNB and also part of the Bank's Board at one point.
4. Kali Prasona Roy - One of the first directors of PNB, he was an eminent Bengali pleader and has been chairman of the reception committee of the Indian National Congress at its Lahore session in 1900.
5. EC Jessawala - A well known Parsi merchant and a partner in the Jamshedji & Co. business house in the Lahore, Jessawala was one of the bank's first seven directors.
6. Lala Lal Chand - One of the founders of DAV College, Lala Lalchand was also a member of PNB's first board of directors.
7. Lala Prabhu Dayal - A leading merchant and philanthropist in Multan, Lala Prabhu Dayal was also on PNB's first board of directors.
8. Bakshi Jaishi Ram - A civil lawyer and on of the bank's first seven directors.
9. Lala Dholan Dass - A banker and merchant in Amritsar, Dholan Dass was also one of PNB's first directors.
History
PNB was founded in the year 1894 at Lahore (presently in Pakistan) as an off-shoot of the Swadeshi Movement. With a common missionary zeal they set about establishing a national bank, the first one with Indian Capital - owned, managed and operated by the Indians for the benefit of Indians. The Lion of Punjab, Lala Lajpat Rai, was actively associated with the management of the Bank in its formative years.
The Bank made steady progress right from its inception. It has shown resilience to tide over many crisis.
It survived the most critical period in its history - the Partition of 1947 - when it was uprooted from its major area of operations. It was the farsightedness of the management that the registered office of the Bank was shifted from Lahore to Delhi in June 1947 - even before the announcement of the Partition.
With the passage of time the Bank grew to strength spreading its wings from one corner of the country to another. Some smaller banks like, The Bhagwan Dass Bank Limited, Universal Bank of India, The Bharat Bank Limited, The Indo-Commercial Bank Limited, The Hindustan Commercial Bank Limited and The Nedungadi Bank was brought within its fold.
PNB has the privilege of maintaining accounts of the illustrious national leaders like Mahatma Gandhi, Shri Jawahar Lal Nehru, Shri Lal Bahadur Shastri, Shrimati Indira Gandhi besides the account of the famous Jalianwala Bagh Committee.
Nationalisation of fourteen major banks on 19th July, 1969 was a major step for the banking industry. PNB was one amongst these. As a result, banking was given a new direction and thrust.
The banks were expected to reach people in every nook and corner, meet their needs and work for their economic upliftment. Removal of poverty and regional imbalances were accorded a high priority.
PNB has always responded enthusiastically to the nation's needs. It has been earnestly engaged in th task of national development. In the process, the bank has emerged as a major nationalised bank.
Timeline of PNB
1894 - PNB is incorporated on May 19 in Lahore.
1895 - The bank opens for business on 12th April, at Lahore's Ganpatrai Road
1900 - PNB opens branch in Rawalpindi
1904 - PNB establishes branches in Karachi and Peshawar
1939 - PNB acquires Bhagwan Dass Bank Limited
1947 - Partition of India. PNB's head office is shifted from Lahore to Delhi, but the bank continues operations in Pakistan
1961 - Indo-Commercial Bank Limited (established in 1933) merged into PNB. The bank also acquires Universal Bank of India
1965 - Pakistan government seizes all offices of Indian banks in Pakistan, following the Indo-Pak war, including PNB's office there.
1969 - PNB among 14 major banks nationalised by the Indian government on July 19.
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