Punjab National Bank started by Lala Lajpat Rai, has completed its centenary in 1995.It has a wide network of branches in India, especially after it got merged with the New Bank Of India.
PNB in December’2000 has implemented the VRS scheme for both Officers & Clerks.Nearly 2000 Officers, have gone in for the VRS, trimming down the organization in the process.While at the individual level VRS is a boon, for PNB it is a bane as it has lost some very hard working, loyal, trustworthy & very experienced personnel which is going to be very difficult to be replaced.Also as the bank is very conservative, it is going to be all the more difficult to maintain its earlier standards.Though of late PNB has been in the process of change & modernising.