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Punjab & Sind Bank founders group portrait. From left-to-right: Tarlochan Singh, Vir Singh, Sundar Singh Majithia The first branch of the bank in Amritsar was established on 24 June 1908 by Bhai Vir Singh, Sir Sunder Singh Majitha, and Sardar Tarlochan Singh to serve the then Sind and Punjab areas of colonial India.
All four amalgamated RRBs were sponsored by Syndicate Bank(Now Canara Bank) and were located in Karnataka. After amalgamation in 2005, the level of the bank’s business was around 23263.73 Crore. After the merger, the RRB was named Karnataka Vikas Grameena Bank with its head office at Dharwad under the sponsorship of Syndicate Bank.
At the time of the proposal to merge, the gross NPA ratios of Bank of Baroda, Vijaya Bank and Dena Bank were 12.4%, 6.9% and 22% respectively, [11] and Dena Bank was the weakest among the three in terms of its total business size. [9] The Union Cabinet and the boards of the banks approved the merger on 2 January 2019.
Tamil Nadu Grama Bank (TNGB) is a regional rural bank headquartered at Salem in Tamil Nadu, India.The bank is jointly owned by the central and state governments and sponsored by the Indian Bank.
The bank was founded on 3 December 1993 as UTI Bank, opening its registered office in Ahmedabad and a corporate office in Mumbai. [11] The bank was promoted jointly by the Administrator of the Unit Trust of India (UTI), [12] Life Insurance Corporation of India (LIC), General Insurance Corporation, National Insurance Company, The New India Assurance Company, The Oriental Insurance Corporation ...
Like other RRBs, Government of India holds the majority 50 percent shares, while the state government and Canara Bank holds 35 percent and 15 percent, respectively. As of 2013, KGB had 504 branches and a total net worth of ₹471.58 crore and deposits of ₹7,266 crore and advances of ₹7,761 crore, with a total business of ₹15,027 crore.
The new bank, India International Bank , commenced operations in 2012 in Kuala Lumpur, which has a large population of Indians. Andhra Bank holds a 25% stake in the joint-venture, Bank of Baroda owns 40%, and IOB the remaining 35%. IOB opened an Offshore Banking Unit in Colombo, Sri Lanka, on 31 August 2013. The bank also upgraded its existing ...
Prabhakar started his career as Chief Risk Officer and GM-Integrated Risk management at Allahabad Bank. He joined Punjab National Bank on 1 March 2018 as the executive director. He became the Managing Director and CEO of Canara Bank from 1 February 2020 and continued to hold his position till 31 December 2022. References