Banks and financial institutions have been making pivotal contributions over the years to nation's economic growth and development. Government-owned (Public Sector) banks have played a major role in economic development. During the last few years, these institutions are slowly getting “corporatized” and consequently corporate governance issues in banks assumes greater significance in the coming years. Considering the importance of the practice of corporate governance in the banking sector and how it helps banking industry in India in terms of bringing more transparency and overall growth of banking sector, Punjab National Bank has been taken as sample bank for the study and tried to analyse to what extent corporate governance norms is being implemented in Punjab National Bank, one of the largest bank in public sector. The corporate governance practices of Punjab National Bank are analysed usingthe annual reports from 2001–02 to 2012–13. The corporate governance practices are analysed with respect to shareholding pattern, board composition, various mandatory and non-mandatory committees like audit committee, remuneration committee, and shareholders’ and customers’ complaints. The study concluded by saying that overall corporate governance practices of Punjab National Bank are good. The implementation of corporate governance norms is increasing year on year whichis a sign of good governance.
Clause 49, Corporate Governance, Punjab National Bank, Shareholding Pattern
