Company type | Public sector Undertaking |
---|---|
Founded | 2008 |
Headquarters | , |
Number of locations | 38 |
Area served | Bhutan |
Services | |
Parent | Royal Government of Bhutan and Punjab National Bank |
Website | www.drukpnbbank.bt |
Druk PNB Bank is a bank established through collaboration between the Royal Government of Bhutan and Punjab National Bank of India.
Druk PNB, incorporated in 2008 under Bhutan's Companies Act, operates as a commercial bank licensed by the Royal Monetary Authority of Bhutan under the 1992 Financial Institutions Act. It is also listed on the Royal Securities Exchange of Bhutan. [1]
As of December 31, 2014, the bank's paid-up capital amounted to Nu 449.712 million, with ownership distributed among Punjab National Bank (51%), Bhutanese promoters (19%), and the general public (30%). [1]
In 2023, Thimphu dzongkhag court sentenced the manager responsible for Druk PNB's ATMs, to nine years and six months for embezzling over Nu 10 million from nine ATMs in the capital. [2]
In 2022, The High Court of Bhutan upheld the Thimphu Dzongkhag court's verdict, sentencing a senior executive of Druk PNB, to three years in prison for fraudulently remitting Indian currency from Bhutan. In the ruling on December 15 of last year, the officer was found guilty of aiding Indian vendor in remitting Indian rupees from Druk PNB to individuals in India since 2012. [3]
Thimphu is the capital and largest city of Bhutan. It is situated in the western central part of Bhutan, and the surrounding valley is one of Bhutan's dzongkhags, the Thimphu District. The ancient capital city of Punakha was replaced by Thimphu as capital in 1955, and in 1961 Thimphu was declared as the capital of the Kingdom of Bhutan by the 3rd Druk Gyalpo Jigme Dorji Wangchuck.
The Government of Bhutan has been a constitutional monarchy since 18 July 2008. The King of Bhutan is the head of state. The executive power is exercised by the Lhengye Zhungtshog, or council of ministers, headed by the Prime Minister. Legislative power is vested in the bicameral Parliament, both the upper house, National Council, and the lower house, National Assembly. A royal edict issued on April 22, 2007 lifted the previous ban on political parties in anticipation of the National Assembly elections in the following year. In 2008, Bhutan adopted its first modern Constitution, codifying the institutions of government and the legal framework for a democratic multi-party system.
Punjab National Bank is an Indian government public sector bank based in New Delhi. It was founded in May 1894 and is the second-largest public sector bank in India in terms of its business volumes, with over 180 million customers, 12,248 branches, and 13,000+ ATMs.
The Kingdom of Bhutan is divided into 20 districts. Bhutan is located between the Tibet Autonomous Region of China and India on the eastern slopes of the Himalayas in South Asia.
Kuensel is the national newspaper of the Kingdom of Bhutan. It was the only local newspaper available in Bhutan until 2006 when two more newspapers were launched. The government of Bhutan owns 51% of Kuensel while 49% is held by the public.
Drukair Corporation Limited, operating as Drukair — Royal Bhutan Airlines, is the flag carrier of the Kingdom of Bhutan, headquartered in the western dzongkhag of Paro.
Changlimithang Stadium is a multi-purpose stadium in Thimphu, Bhutan, which serves as the national stadium of Bhutan. It is predominantly used for football matches and is the home of the Bhutan national football team, other national selections and a number of Thimphu-based football clubs. The stadium also regularly plays host to women's football, archery tournaments, minifootball and some volleyball matches. The stadium was initially constructed in 1974 for the coronation of the fourth King of Bhutan, Jigme Singye Wangchuck, but was completely refurbished in 2007 in advance of the coronation of Jigme Khesar Namgyel Wangchuck. Floodlights were added to the football pitch in 2009 and an evergreen turf laid in 2012, to coincide with the start of the first season of the National League. Located 2,300 meters (7,500 ft) above sea level, the stadium is one of the highest in the world. It has raised numerous controversies in footballing circles, as its significant altitude affects the absorption of oxygen in the human body, offering considerable advantage to the home teams who are more accustomed to such conditions.
The Royal Bhutan Police is the national police force of the Kingdom of Bhutan. It is responsible for maintaining law and order and prevention of crime in Bhutan. It was formed on 1 September 1965 with 555 personnel reassigned from the Royal Bhutan Army. It was then called the "Bhutan Frontier Guards." Its independent statutory basis was first codified with the Royal Bhutan Police Act of 1980. This framework was repealed and replaced in its entirety by the Royal Bhutan Police Act of 2009.
The development of Bhutanese democracy has been marked by the active encouragement and participation of reigning Bhutanese monarchs since the 1950s, beginning with legal reforms such as the abolition of slavery, and culminating in the enactment of Bhutan's Constitution. The first democratic elections in Bhutan began in 2007, and all levels of government had been democratically elected by 2011. These elections included Bhutan's first ever partisan National Assembly election. Democratization in Bhutan has been marred somewhat by the intervening large-scale expulsion and flight of Bhutanese refugees during the 1990s; the subject remains somewhat taboo in Bhutanese politics. Bhutan was ranked 13th most electoral democratic country in Asia according to V-Dem Democracy indices in 2023 with a score of 0.535 out of 1.
The following outline is provided as an overview of and topical guide to Bhutan:
Banking in Bhutan, a small country in East Asia, is an industry that has grown slowly as the country has pursued modernization. The country has a vibrant informal culture of finance which only weakly integrates formal financial services.
Royal Thimphu College is a private college in Thimphu, Bhutan under the Royal University of Bhutan. It is Bhutan's first private college.
Football is a sport with a comparatively brief history in Bhutan, having had an initial period of favour in the mid-twentieth century, when it was first introduced to the country by visiting teachers from India and Europe. It has only achieved significantly renewed popularity in the early 2000s, following the advent of satellite television broadcasting, with historically national sport being archery. Consequently, the domestic game was underdeveloped. After the establishment of an initial league in the late 1980s, little in the way of recorded competition took place until the mid-1990s when a formal championship, the A-Division, was created. Football became the most popular sport in Bhutan.
Lam Dorji was the Chief Operations Officer (COO) of the Royal Bhutan Army (RBA) from 1964 to 2005. He was succeeded by Batoo Tshering on 1 November 2005.
The Bhutan Premier League, currently known as the Bank of Bhutan Premier League due to sponsorship reasons, is the men's highest division of professional football in Bhutan. It also provides Bhutan's entrant for continental competition, the AFC Challenge League.
Bhutan National Bank is a commercial bank founded in 1997 and located in Thimphu, capital of the Kingdom of Bhutan.
Trashigang Dzong is one of the largest dzong fortresses in Bhutan, located in Trashigang in Trashigang District of Bhutan. The fortress was built in 1659 to defend against Tibetan invasions. The dzong hosted a monastic community besides acting as the central administrative center of the Trashigang District, before they were shifted due to the ongoing restoration.
Lotay Tshering is a Bhutanese politician and surgeon who was the prime minister of Bhutan, in office from 7 November 2018 to 1 November 2023. He has also been the president of Druk Nyamrup Tshogpa since 14 May 2018.
Dasho Sherub Gyeltshen is a Bhutanese politician who served as the Minister for Home and Cultural Affairs from November 2018 to 6 May 2021 when he resigned. He was a member of the National Assembly of Bhutan from October 2018 to 6 May 2021.
The Khesar Gyalpo University of Medical Sciences of Bhutan (KGUMSB) (Dzongkha: གེ་སར་རྒྱལ་པོ་གསོ་རིག་གཙུག་ལག་སློབ་སྡེ) is a medical university located in Thimphu, Bhutan. Founded in 2013, it is the first medical university to be established in Bhutan.