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The particulars of the organization, its functions and duties

Organizational Set up:

Punjab & Sind Bank has a three tier organizational set up, comprising its Head office at Rajendra Place, New Delhi, 24 Zonal offices and 1500 Plus Branches spread all over the country as on 31.06.2017. Section 6 of Banking Regulation Act 1949 covers the activities of the Bank and the directives of RBI issued from time to time.

Chairman & Managing Director who is appointed by Central Government in consultation with Reserve Bank of India heads the Board of the Bank.
Click here for The name(s) and particular(s) of the Chairman & Managing Director, Executive Director, other Directors and General Managers of the Bank. 

The duties of the officers and employees of the Bank are determined by the Officers’ Service Regulations and Bi-partite settlements duly approved by the Board of the Bank as well as IBA and MOF/RBI.

Delegation of lending powers:

The Bank has a well laid down system of delegation of lending powers to be exercised by Branch Managers depending upon their scale, officials at Zonal offices and by Executives at Head Office with operative guidelines governing the exercise of delegated powers. Branch Managers heading the branches inter alia include officials of JMGS-I cadre and above cadre, and Officials at Zonal offices comprise of General Manager / Dy. General Manager/Asstt. General Manager/Chief Manager and at Head Office, General Manager (Advances) & Executives above him such as Executive Director, Chairman & Managing Director appointed by the Central Government.

Financial Powers for Revenue and Capital Expenditure: To ensure smooth and proper functioning of the branches and other offices, bank has put in place a well laid out system involving clear delegation of financial powers for revenue and capital expenditures vested with officers/Executives in different cadres for sanction/approval of expenditure, which will be within the framework of approved budgets.

Duties of the Officers and employees of the Bank:

The rights and duties of Officer employees up to Scale-VII are governed by:

As far as award staff employees are concerned, the service conditions are governed by the industry level settlement (Bipartite settlements) entered into by Indian Banks Association with the recognized employee organizations.

Public is requested to refer to the above Regulations and Bipartite settlement for details.

The Administrative and credit powers of officers at various levels and of different scales are to be exercised in the process of decision making and the procedural guidelines on the channels of supervision and accountability are as decided by the Board. There is well-defined system in the Bank regarding the decision making process. Financial decisions are taken at various levels from Manager to Assistant General Manager of Branch depending upon their positions and beyond that at Zonal offices and Head office as per procedure approved.

Further, there is a well-defined organizational structure and a clear system of accountability which also takes into account the RBI / CVC guidelines. Each officer has to consider loan proposals and take a decision in terms of the scheme of delegation of powers.

Whether to sanction a loan or not, is the absolute discretion of the concerned sanctioning authority of the Bank and such discretion is exercised on merit, after taking into consideration the relevant facts and circumstances of each case and the loan policy of the bank.

All loans sanctioned by sanctioning authority are periodically reported to next higher authority.

Norms, as are received from the Government of India, Reserve Bank of India and/or approved by the Board are the guiding principles for discharging various functions.  

In this context Head Office decide the rates of Interest to be offered by the Bank for the deposits, for different tenures which are displayed on the Bank's website and also at the branches. Regarding the advances, again the Head Office takes a decision on introduction of various loan products details of which are available on the website as well as at the branches. Head Office also decides about the rates of interest for various advances which again are available on our website and also at the office / branches of the Bank.

Based on the Central and State Laws, documents as required under these Laws, Rules and Regulations, Licenses obtained from RBI for opening Branches/ other offices  and other Documents as prescribed by the Head office are held / maintained by the  Branches/ other offices.

There are Documents executed by customers / borrowers / guarantors, Contracts with Third Parties / etc. These are all private information and of commercial value and cannot be shared with public.

There is no arrangement for consultation with the members of Public in formulating any of the Policies of the bank. The Board of the Bank includes directors from various disciplines as nominated by the Government of India in consultation with Reserve Bank of India.

As per the present arrangement, the shareholders can raise issues concerning policies in Annual General Meetings, which can relate to policy of the bank on changes to be made in various products and services of the bank as well as various services charges and rate of interest being charged by the bank.

Further the Bank's Quarterly / Half yearly / Annual results are published in leading newspapers as well as putting the same on Bank's web site for information of public as well as the shareholders which would give an idea of the policies of the bank and implementation thereof.

Customers meeting are also conducted at various levels at regular intervals where members of the Public get opportunity to discuss individual issues and get an idea about the policies of the Bank and implementation thereof. In these forums customers can give suggestions/feed back.  

The Board of the Bank is constituted under the Banking companies (Acquisition and transfer of undertakings) Act, 1980.  Click here for details of Various committees which are as per the requirement of the Bank, are formed as per the approval of the Board :-

Public are not entitled to participate in the above committee meetings and minutes are not accessible to public. Public may refer to Annual Report for more details.

All the general information regarding deposits, advances and other services offered by the Bank are available in the bank's website