Punjab National Bank (PNB) hasn’t given much information on its digital performance in its financial results for the quarter ending 31st March 2018, but here’s what we have:


BHIM users: PNB reported around 950,000 users on UPI via the NPCI owned BHIM application, up from around 780,000 at the end of December 2017, up around 21.79%
PNB UPI: The bank reported 850,000 UPI users via the PNB application, up 21.42% from 700,000 users at the end of December 2017.
Note that PNB has embedded UPI services within the PNB mBanking application for mobile banking users, which should have led to an increase in usage.
In comparison, the State Bank of India has reported 1.84 million active UPI users.


PNB opened 7.463 million bank accounts using Aadhaar based eKYC during the quarter, up 39.4% as compared to March 2017.

Direct Benefits Transfer

PNB processed some 197.41 million transactions of Adhaar linked direct benefit payments transfers through the NPCI, up 67% year on year from 117.73 million transfers. The amount transferred is not very clear: it’s possible that PNB missed adding a unit to this chart below.

Internet Banking & Mobile Banking

Internet banking users for PNB crossed 13 million during the quarter, an increase from 12 million the previous quarter, up 8.33%. PNB hasn’t disclosed the number of Internet Banking transactions in its financial results.

We do have some data from MediaNama’s “Digital Payments in India” report, which has data for PNB till October 2017:

Rupay Cards issued

PNB issued 15.94 million Rupay cards, up only 15.8% from 13.76 million last year. Rupay is India’s payments system for enabling financial transactions, similar to Visa and Mastercard.

Banking Correspondents

Banking Correspondents are essentially digital enabled agents of the bank who serve as extensions of the bank: allowing people to withdraw money, open bank accounts, etc. By March 2018 end, PNB had reported a decline in banking correspondents: down 47 BCs (around 0.58%), which is marginal, but is still surprising, coming at a time when this number should be increasing. Quarter on quarter, the decline is worse: at the end of December 2017, PNB had 8365 banking correspondents, so that’s a decline of 8.83%, or 321 BCs.

Other data:

  • 66 million debit card users
  • 9668 ATMs