PNB bags best bank award

New Delhi: One of India’s premier banking institution, Punjab National Bank (PNB) has been conferred with the ‘Best Bank Award – 2011’ among all the banks in the country.

The award was received KR Kamath CMD PNB, from the hands of C Rangarajan Chairman

Prime Minister’s Economic Advisory Council.
Speaking on the occasion, Rangarajan said that the best way to promote excellence is to honour persons and institutions who are excellent and added that the year 2011 was a difficult year and getting the ‘Best Bank Award’ for the year is a remarkable achievement.
Chairman, Bank of Baroda and also the Chairman of the Jury MD Mallya observed that while selecting the Best Bank, the Jury went beyond the numbers also. He said that Kamath has the qualities of a leader to lead a large Bank like PNB in the long term, and has built the team.
On receiving the honour, Kamath said that PNB has a rich legacy and a large franchise of loyal
customers. Technology is an important strength of PNB and it transacts 5 million transaction per
day and has also developed 22 risk rating models in house.
The bank will be recruiting ten thousand employees this year, he added.
While concluding his speech he said “the best in us is yet to come”.
The function was also attended by Rakesh Sethi and Usha Ananthasubramanian, EDs, PNB. The other dignitaries present on the occasion were MV Nair CMD Union Bank of India, MV Tanksale CMD Central Bank of India.