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Punjab National Bank (abbreviated as PNB) is an Indian government public sector bank based in New Delhi. [5] It was founded in May 1894 and is the second-largest public sector bank in India in terms of its business volumes, with over 180 million customers, 12,248 branches, and 13,000+ ATMs.
On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal. [24] [25] As part of the merger, HDFC Ltd would transfer its home loan portfolio to HDFC Bank, while the bank offered depositors of HDFC Ltd the choice of either withdrawing their money or renewing their deposits with the bank at the interest rate that the bank was then offering.
Bakhshi, an employee of ICICI since 1986, was appointed as MD & CEO in October 2018. [3] [4] [5] Prior to this, he was the managing director and CEO of ICICI Prudential Life Insurance from August 2010 to June 2018 [4] and MD and CEO for ICICI Lombard General Insurance Company in April 2002.
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A bank is a financial institution that accepts deposits from the public and creates a demand deposit ... banks lend money to ordinary commercial and personal ...
In April 2020, RBI enlisted SBI to rescue the troubled lender Yes Bank, in the form of investment with assistance from other lenders viz., ICICI Bank, HDFC Bank and Kotak Mahindra Bank. SBI went on to own 48% share capital of Yes bank, which it later diluted to 30% in an FPO in the following months.
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