PSB Full Form | Full Form of PSB
PSB Full Form - Punjab & Sind Bank
Punjab & Sind Bank
- The full form of PSB is Punjab & Sind Bank. PSB may be a bank owned by the govt and its headquarter is situated in New Delhi.
- Overall, the bank has 1559 branches that are widely distributed across India, where its 623 are within the state of Punjab.
History of PSB
- PSB was founded by Sir Sunder Singh Majitha, Bhai Vir Singh & Sardar Tarlochan Singh on 24 June 1908.
- PSB was one among the six banks nationalized by the Indian government on 15 April 1980 within the second wave of nationalizations.
- PSB formed a branch in London within the 1960s. In 1991, at the behest of the RBI, Bank of Baroda purchased the PSB London branch after the involvement of Punjab & Sind within the Sethia fraud in 1987.
- Punjab & Sind clearly shows the growth of more than 40% per annum since 2004, and its latest IPO has been oversubscribed more than 50 times. The bank recently reached a mark within the business of Rs 1.60 lac crore.
- A Regional Rural Bank funded by Punjab & Sind Bank was Sutlej Gramin Bank.