PNB sets-up wholly owned subsidiary ‘PNB Cards & Services Ltd’ to manage credit card business

State-run Punjab National Bank (PNB) has set up a wholly-owned subsidiary namely “PNB Cards & Services Ltd” to manage its credit card business.
The PNB Cards & Services Ltd has been incorporated on March 16, 2021, by the Registrar of Companies, Delhi.
The new subsidiary will undertake the non-financial support services related to credit card business of the bank.
The authorised capital of the company is Rs 25 crore and the paid-up capital is Rs 15 crore.