The Punjab National Bank (PNB) is one of the oldest and largest government-owned multinational banks in India. PNB was established over 120 years ago and today has an impressive customer base of 150 million customers. The PNB network consists of well over 7,030 bank branches and over 10,000 ATMs spread across the length and breadth of the country. Apart from its pan-India services, PNB also offers banking services abroad in over 10 countries with 7 branches in the UK, as well as active branched in Hong Kong, Dubai, Kowloon, and Kabul. In addition, PNB also has representative offices for its international customers in Almaty (Kazakhstan), Shanghai (China), Dubai (United Arab Emirates), Sydney (Australia) and Oslo (Norway).
The Punjab National Bank has won numerous awards for its excellent and convenient banking services, including being awarded:
- 26th rank in Fortune India 500 listing of 2011
- 2011 Golden Peacock Award for “Excellence in Corporate Social Responsibility”
- 2011 Golden Peacock for “National Training” award
- 2012 Best Public Sector Bank award by CNBC TV 18
- 717th rank in 2013 Forbes Global 2000 List
- 2012 “Most Socially Responsive Bank” award from PwC and Businessworld
Apart from excellent banking services, the PNB is also renowned for its SCR initiatives, including investing INR 3.24 crores during 2012-2013.
About PNB IFSC Code
An IFSC (Indian Financial System Code) is the innovative and necessary information that is required for performing online money transfer from one account into a PNB bank account.
An IFSC code is a completely unique 11 digit alphanumeric coding system that is most helpful in streamlining the use of various online money transfer services offered by any bank. The Reserve Bank of India (RBI) assigns a unique IFSC to every recognized public and private sector bank operating in India. The code helps to define the bank name with the alphabets listed in the first 4 digits of the IFSC code. The 5th place is left as “0” for future use while the remaining 6 numerical digits identify the particular branch of the recipient bank.
If you wish to use conventional online money transfer banking services to send an amount from your bank account to a recipient’s account with the Punjab National Bank, then you will need to have the recipient’s PNB IFSC code handy.
Importance of PNB IFSC Code
An IFSC code is a mandatory requirement for any modern online money transferring technique as it has made online banking simplified and safe.
The reasons that IFSC codes hold such importance today when it comes to performing online money transfers is that because an IFSC code helps to:
- Identify the recipient bank and branch – The IFSC code mainly identifies the bank and specific bank branch with which the recipient holds an account. Thus, the IFSC code automatically relates to the process of the information required to send the transferred amount quickly, within the stipulated time limit of the particular online money transferring technique being used.
- Simplify online money transfers – Using an IFSC code ensures that your money transfer is safe, secure and successful. The IFSC code has enabled banks to streamline the online money transfer process besides making it extremely safe with no margin for errors.
- Speed up online payments – With the help of IFSC codes it is possible for you to transfer a varied amount of money to recipient account using conventional online banking options, including RTGS, NEFT, and IMPS.
Uses of PNB IFSC Code
Thanks to its uniqueness and for being able to identify the recipient bank and bank branch automatically, the IFSC code come extremely handy when you are performing online payments, using:
RTGS – The Real Time Gross Settlement (RTGS) is an extremely popular online money transferring bank service. RTGS allows you to transfer large sums of money to recipient bank account instantly. RTGS transactions are performed batch-wise, with a batch of RTGS requests being processed almost every couple of hours by the bank during working hours. Using RTGS, you can transfer INR 200,000 minimum with no upper transaction limit.
NEFT – National Electronic Fund Transfer (NEFT) is probably the most popular online banking service in use today. NEFT transactions are also performed in batches, with each NEFT application being processed at least 4 times during normal workdays. With NEFT, it becomes extremely easy to transfer amounts up to INR 200,000 to another bank account anywhere across India fast and safely.
IMPS – Immediate Payment Service (IMPS) is yet another increasingly popular online banking option which is in high use. Although it works similar to RTGS and NEFT services, the IMPS banking service is comparatively more convenient. It can be used via your registered mobile phone number at any time and from anywhere.
Find PNB IFSC Code
The 11-digit PNB IFSC code is easy to recognize among the other banking details. The PNB IFSC code conventionally begins with the four alphabets “PUNB” followed by a “0” and then with a unique 6-digit numeric code.
Finding the PNB IFSC code is extremely easy. To facilitate faster and more convenient banking, there are several ways that you can find the IFSC code for a recipient who is an account holder with the Punjab National Bank.
As it is mandatory to have the IFSC code of the recipient’s bank account handy during online money transfer application, here’s how to find PNB IFSC code:
- PNB Pass Book – The bank pass book provided by PNB has the account holding branch’s IFSC code stated clearly. Simply check the first page of the recipient’s PNB passbook and the IFSC code is printed within the essential information of the bank account holder, such as the bank account holder’s name, bank account number, branch, address, etc.
- PNB Cheque Book – In addition to the PNB passbook, you can also find the recipient’s PNB IFSC code on the latest PNB cheque book issued by the bank. Check the top margin for the bank details (bank name, address, etc) and you will find the PNB IFSC code printed clearly below the details.
- PNB Website – In case the PNB passbook and PNB cheque book are not handy at the time of transferring money, you can easily find the recipient’s PNB IFSC code on the internet. Simply use your smartphone or computer to access the official PNB website and enter the branch name of the recipient’s PNB account and the website promptly displays the correct PNB IFSC code for the particular branch.