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Punjab National Bank commenced its operations on April 12, 1895 from Lahore with an authorized capital of Rs. 2 lakh and working capital of Rs 20,000. 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 6,968 branches and over 9,656 ATMs across 764 cities and serves over 80 million customers. Punjab National Bank was registered on 19 May 1894 under the Indian Companies Act, with its office in Anarkali Bazaar, Lahore. The bank started its operations on 12 April 1895 in Lahore. In 1900, PNB established its first branch outside Lahore in India. The next major event occurred in 1940 when PNB absorbed Bhagwan Dass Bank, which had its head office in Dehradun. On 31 March 1947, even before Partition, PNB had decided to leave Lahore and transfer its registered office to India; it received permission from the Lahore High Court on 20 June 1947, when it established its new head office at Under Hill Road, Civil Lines in New Delhi.