Ahmedabad PNB branch catches fire, no casualties

Core banking solution providers have a reason to smile. Inspite of a fire gutting its Ashram road branch, Punjab National Bank was able to continue its regular operations because of its centralised banking solution (CBS) network, wherein data of all banking transactions were preserved electronically.

The fire, which occurred at 5:30 in the morning on Tuesday, claimed no casualties. It was reportedly caused due to a short circuit. Furniture, computers and other equipment inside the bank were completely damaged but the flames were extinguished before it spread to the neighbouring ICICI bank.

The PNB branch was sealed but no services were suspended as customers were redirected to two other CBS branches in the nearby vicinity.

"The extent of the damage is currently being worked out by the insurance surveyors and will be known only after their report is submitted," said P M Vijayan, chief manager of the Ashram road branch, which holds a deposit of Rs 128 crore.

The branch has already started to clear the rubble and will function temporarily in the basement of the Popular House building. The reconstruction of the office in the same premises has already commenced, said Vijayan.