PNB

For time immemorial PNB has been the largest nationalised bank and second largest lender of the country.

Many companies are in existence today because PNB in either direct way or indirect way supported them, in nascent stages and these industries have given employment to Lakhs of people in private sector.

PNB believed in Finacle of Infosys which made Infosys what it is today and providing employment to children of many of us.

 It backed stock exchanges like NSE with holding close to twenty percent when none knew of NSE.

It helped build CIBIL and other credit information companies.

PNB is helping India Post to deliver a payments bank which is going to change the landscape of financial services in India in upcoming days.

The structure of PNB is such that it has given wide powers to its officials, and that is the anthesis of this bank, and in this belief the bank is hit hard, the systems and procedures are strongest in the industry, one incident doesn't make it go break.

Its reserves and surplus being built from over a century is so strong its unimaginable, wherever there was lacuna it would be strong, in the past quarter when even SBI reported over 2000 crore loss it made healthy profits.

In the crash of 2008, the day Lehman Brothers went broke ICICI went into severe crisis, PNB lent 15 thousand crores in overnight lending to let ICICI Bank fullfill its regulatory requirements.

 PNBs operating profits are close to 60 thousand crores, it is and always has been the bank you can bank upon.

why  do we fall ? so that we can pick ourselves up and when we rise we rise stronger ! We and our Bank is same. We are not a single bank but the  family of 70000 employees.

 We may explore chances to go for an internal share issue or any other mechanism wherein Pnb employees can subscribe and capital is infused in our bank to the tune of say 4000 crores. 

Suppose every scale one to apply for shares amounting to 4 lac, 

Scale  two for 5 lac, scale three for six lac, scale four for seven lac, scale five for 8 lac and so on. 

If the amount can come from Loans or PF. 

Even retired employees also can buy huge amount of shares. 

The purpose is that our working and retired employees should come forward and contribute so that capital is infused. 

There is no chance of PCA as on now but before march 18 capital may be needed. 

This should be debated and plan may be executed. 

We all are perturbed and time has come when we can't be fence sitter.

Undoubtedly, the incident doesn't make us happy but we can't wear the clothes on fire and it is better to get treatment for Burns and change burned clothes and think for future, if possible.

Source :whatsapp