New Delhi

New Delhi (ⁱ/ˌnjuː ˈdɛli/) is a municipality and district in Delhi which serves as the capital and seat of government of India. In addition, it also serves as the seat of Government of Delhi.

The foundation stone of the city was laid by George V, Emperor of India during the Delhi Durbar of 1911. It was designed by British architects, Sir Edwin Lutyens and Sir Herbert Baker. The new capital was inaugurated on 13 February 1931, by India's Viceroy Lord Irwin.

Although colloquially Delhi and New Delhi as names are used interchangeably to refer to the jurisdiction of NCT of Delhi, these are two distinct entities, and the latter is a small part of the former.

New Delhi has been selected as one of the hundred Indian cities to be developed as a smart city under PM Narendra Modi's flagship Smart Cities Mission.

Establishment

Calcutta (now Kolkata) was the capital of India during the British Raj until December 1911. However, Delhi had served as the political and financial centre of several empires of ancient India and the Delhi Sultanate, most notably of the Mughal Empire from 1649 to 1857. During the early 1900s, a proposal was made to the British administration to shift the capital of the British Indian Empire (as it was officially called) from Calcutta to Delhi. Unlike Calcutta, which was located on the eastern coast of India, Delhi was at the center of northern India and the Government of British India felt that it would be logistically easier to administer India from the latter rather than the former.

Delhi

Delhi (/ˈdɛli/, Hindustani pronunciation: [d̪ɪlliː] Dilli), officially the National Capital Territory of Delhi, is the capital territory of India. Delhi is historically and culturally connected to both the Upper Doab of the Yamuna-Ganges river system and the Punjab region. It is bordered by Haryana on three sides and by Uttar Pradesh to the east. It is the largest city in India in terms of geographical area - about 1,484 square kilometres (573 sq mi). It has a population of about 16.3 million, making it the second most populous city and second most populous urban agglomeration in India and 3^rd largest urban area in the world. Such is the nature of urban expansion in Delhi that its growth has expanded beyond the NCT to incorporate towns in neighbouring states and at its largest extent can count a population of about 25 million residents as of 2014.

Delhi has been continuously inhabited since the 6th century BC. Through most of its history, Delhi has served as a capital of various kingdoms and empires. It has been captured, ransacked and rebuilt several times, particularly during the medieval period, and modern Delhi is a cluster of a number of cities spread across the metropolitan region.

Bank

A bank is a financial institution that creates credit by lending money to a borrower, thereby creating a corresponding deposit on the bank's balance sheet. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial system and influence on national economies, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.

Banking in its modern sense evolved in the 14th century in the rich cities of Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and lending that had their roots in the ancient world. In the history of banking, a number of banking dynasties — notably, the Medicis, the Fuggers, the Welsers, the Berenbergs and the Rothschilds — have played a central role over many centuries. The oldest existing retail bank is Monte dei Paschi di Siena, while the oldest existing merchant bank is Berenberg Bank.

Punjab National Bank

Punjab National Bank is an Indian multinational banking and financial services company. It is a state-owned corporation based in New Delhi, India. Founded in 1894, the bank has over 6,300 branches and over 7,900 ATMs across 764 cities. It serves over 80 million customers.

Punjab National Bank is one of the Big Four banks of India, along with ICICI Bank, Bank of Baroda and State Bank of India. It has a banking subsidiary in the UK (PNB International Bank, with seven branches in the UK), as well as branches in Hong Kong, Kowloon, Dubai and Kabul. It has representative offices in Almaty (Kazakhstan), Dubai (United Arab Emirates), Shanghai (China), Oslo (Norway) and Sydney (Australia). In Bhutan it owns 51% of Druk PNB Bank, which has five branches. PNB owns 20% of Everest Bank Limited, which has 50 branches in Nepal. Lastly, PNB owns 84% of JSC (SB) PNB Bank in Kazakhstan, which has four branches.

History

Punjab National Bank was registered on 19 May 1894 under the Indian Companies Act, with its office in Anarkali Bazaar, Lahore. The founding board was drawn from different parts of India professing different faiths and a varied back-ground with, however, the common objective of providing country with a truly national bank which would further the economic interest of the country. PNB's founders included several leaders of the Swadeshi movement such as Dyal Singh Majithia and Lala Harkishan Lal, Lala Lalchand, Shri Kali Prosanna Roy, Shri E.C. Jessawala, Shri Prabhu Dayal, Bakshi Jaishi Ram, and Lala Dholan Dass.Lala Lajpat Rai was actively associated with the management of the Bank in its early years. The board first met on 23 May 1894. The bank opened for business on 12 April 1895 in Lahore.

National bank

In banking, the term national bank carries several meanings:

In the past, the term "national bank" has been used synonymously with "central bank", but it is no longer used in this sense today. Some central banks may have the words "National Bank" in their name; conversely if a bank is named in this way, it is not automatically considered a central bank. For example, National Bank of Canada of Montreal, Canada, is a privately owned commercial bank. On the other side, National Bank of Ethiopia is the central bank of Ethiopia and National Bank of Cambodia is the central bank of Cambodia.

Afghanistan

Pashtany Bank is the government-owned bank in based in Kabul that controls Da Afghanistan Bank as well as the Afghan National Bank.