PNBRewardz - PNB Debit Cards Loyalty Program. Hm-not sure who the gainer is!!

To encourage it’s debit card holders to swipe their debit cards more at POS Terminals, PNB is running a Debit Cards Loyalty Program  i.e PNBRewardz.

The routine operations for this Loyalty Program lie with Loylty Rewardz. Hence, ‘Rewards’, is spelt as ‘Rewardz’!

The PNB Debit Card holder has to register him/her self for points accrual and redemption.

The registration process involves visit to the Bank’s ATM and than Internet access.

Every member of PNB Rewardz is eligible to accrue Points.

PNB Rewardz members can earn & accumulate Points for all their Spends at Point of Sales (POS) and online purchases using Punjab National Bank Debit Card.

With every Rs. 100 spent, you earn 1 point (Each point is valued at Rs. 0.25)

The minimum redemption value is 500points.

To earn 500 points, the customer has to swipe for  Rs50,000/-

I am not sure, whether this makes sense or not.

As no relevant statistics are published, the success of this program cannot be ascertained.

However, as the program is still run all over India, it must have achieved the Break-even point.

Punjab National Bank (PNB) is one of the 500 largest banks in the world, and enjoys a rich history and heritage.

PNB was the first Indian bank to be started solely with Indian capital. Established in 1895 at Lahore, and nationalized in 1969, in the first lot of 13 Banks.

PNB is 100% CBS and operates through 5,000+ branches, 444+  extension counters and 1855+ ATMs.

444 extension counters-Some Indian Banks do not have that many branches as PNB has extension counters!

Over it’s 100 years existence, PNB has added numerous feathers to it’s cap.

The bank was established in 1895 at Lahore. PNB's founders included several leaders of the Swadeshi movement like Dyal Singh Majithia, Lala HarKishen Lal, Lala Lalchand, Kali Prosanna Roy, EC Jessawala, Prabhu Dayal, Bakshi Jaishi Ram, and Lala Dholan Dass.

Lala Lajpat Rai was actively associated with the banks’s management in its early years. Lala Lajpat Rai’s brother was the first manager of Punjab National Bank.

Apart from 4500+ Branches in India, PNB has Overseas Offices at United Kingdom,  Hong Kong and Kabul. It has representative offices in Almaty, Shanghai, and Dubai.

The Bank is the first amongst the public sector banks to  come out with Voluntary  Retirement Scheme.

Way back in 2002, PNB embarked on a CBS for it’s wide network. It  tied up with Cisco Systems for  networking 3,870 branches and also was in talks  Infosys for the  implementation of a Centralised Banking Solution for it, via a Joint Subsidiary.

In 2004, PNB mandated  TCS to deploy HR Solutions. To make this a reality, TCS  joined hands with PeopleSoft to  handle  project mandated by PNB for a Human Capital Management and Payroll Solution.

Over the decades, few banks were merged into PNB, mostly as a rescuer for the other Banks.

In 1951, PNB acquired the 39 branches of Bharat Bank (est. 1942);

In 1960s, PNB amalgamated Indo Commercial Bank (est. 1933) in a rescue.

In 1986, PNB acquired Hindustan Commercial Bank (est. 1943) in a rescue. The acquisition added Hindustan's 142 branches to PNB's network.

IN 1993, PNB acquired New Bank of India, which the GOI had nationalized in 1980

The major development in Punjab National Bank in the last 6 months, is acquisition of 30% stake in MetLife India at an undisclosed amount.

In Oct 2011, PNB’ the Country’s second largest public sector bank, completed all formalities to acquire 30% stake in MetLife life insurance. PNB is expecting to start selling life insurance policies of MetLife from 14 January 2012 across the country.

Another unique initiative of PNB is PNB PRERNA”, an association of the wives of the Bank’s senior management. The association through its voluntary initiatives undertakes  activities like distribution of food to the poor and needy, provision of computers, books, stationary items to poor girl students at various orphanages and schools etc.