Asansol, a city in the Burdwan district of the Indian state of West Bengal, is the states second largest city in terms of area and population. It is a Tier-II city which rapidly developing. The city has derived its name from two words - "Asan" refers to a 30 meters tall found near River Damodar and "Sol" refers to land. Thus, these two words combine to form the name of this city which is incredibly rich in minerals. This cosmopolitan city is located on the lower Chota Nagpur Plateau and it shares the border with the Dhanbad district in the adjoining state of Jharkhand. The economy of this city is principally dependent on its steel and coal industries. The IISCO or Indian Iron and Steel Company Ltd steel-making plant at Kulti in Asansol was the first of such facility in India and is undergoing major renovations to come back with doubled production rate. Eastern Coalfields has a significant presence in the Asansol due to the enormous deposits of high-quality coal in and around the city. The railway is a big contributor to Asansols economy as many residents are employed in the Chittaranjan Locomotive Works which is one of the worlds largest locomotive manufacturers.
The Punjab and Sind Bank was established on 24th June 1908 with an idea to uplift the weaker section with the far-sighted vision of luminaries like Sir Sunder Singh Majitha, Bhai Vir Singh, and Sardar Tarlochan Singh. As on 31st March 2015, the net worth of the bank is Rs. 4812 crore. A Punjab & Sind Bank branch was established in London in the 1960s. In 1991, the Bank of Baroda acquired the Punjab & Sind Banks London branch on the request of the RBI based on the Punjab & Sinds involvement in the Sethia fraud. The Bank confirmed to have a network of 920 branches or extension counters and 63 ATMs spread across the country as of July 31, 2010. Notably, they have 49 specialized departments, out of the 920 offices. The government owns Punjab & Sind Bank, and it is based in New Delhi. Its 623 offices are in Punjab state out of 1554 branches spread all over India. The Punjab & Sind Bank sponsored a regional rural bank known as Sutlej Gramin Bank. The products of Punjab and Sind bank includes Debit Card, ATM, Internet Banking, Mobile Banking, SMS Banking, BHIM, UPI, POS Machine, AADHAR PAY and BHARAT QR.