PNB set up new company for credit card business; more than 4.3 crore users of the company

Punjab National Bank

Punjab National Bank

In the information given to the stock market, PNB said that the complete subsidiary unit PNB Cards & Services Ltd. (PNB Cards and Services Ltd) was constituted by the Registrar of Companies, Delhi on 16 March 2021.

New Delhi. Public sector Punjab National Bank, i.e. PNB (Punjab National Bank), has set up a full subsidiary unit to manage its credit card business.

In the information given to the stock market, PNB said that the complete subsidiary unit PNB Cards & Services Ltd. (PNB Cards and Services Ltd) was constituted by the Registrar of Companies, Delhi on 16 March 2021. The subsidiary unit will look after the operations related to the bank’s credit card business.

There are more than 4.3 crore users of the company
The authorized capital of the company is Rs 25 crore and the paid up capital is Rs 15 crore. According to the Reserve Bank of India (RBI), the number of credit cards of PNB was more than 4.3 crore (4,34,02,879) as of December 2020.



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