The village has history going back to the Shalivahana. It is believed that the name of the village was formed by merging the two towns Punyastambha and Tambilindanapur.
Per the 2001 Census of India, the population of the village was 12425 with 6366 males and 6059 females. Puntamba is a Market Town with a weekly market held on every Monday. It is located twelve miles south-east of Kopargaon, the taluka headquarters with a railway station on the Daund-Manmad railway and a railway spur connecting it with Saibaba pilgrimage town of Shirdi. In modern times, large number of residents of the town are involved in Horticulture. The main source of water-supply is, of course, the Godavari river and wells. The town is electrified. Facilities and businesses in the town include a ST bus-stand, a post office, two commercial banks, six credit co-operative societies, and a Godown for storing grains. There is also a veterinary dispensary. There are seven Doctor's offices. The educational institutions include an agricultural school with 200 acres of land, five primary schools, two high schools and three libraries. Cultural or religious facilities in the town include a traditional gym called akhada or talim, two dharmashala, three maths, a Christian church, a dargah and four mosques.
The Godavari river is sacred to Hindus and has several places on its banks, that have been places of pilgrimage for thousands of years.Puntamba is one of them. On the bank of the Godavari in town,there are low flights of steps or ghats to the water, one of which was built by Ahilyabai Holkar, the great temple-building ruler of Indore and another by one Shri Shivram Dumal. The place has sixteen temples of Maruti, six temples of Mahadev including one of Kashi Vishweshvar, temple of Kalbhairav, three temples of Vitthal, two temples of Datta, and one each of Laxmi-Narayan and Changdeo Maharaj.
Changdeo Temple
The main temple in Puntamba is that of Changdev, a famous saint said to have lived for 1,400 years. It is stated that the saint used to absorb himself in devout contemplation after every hundred years at different places, Puntamba being the last place where he had his fourteenth meditation. There is a legend about Changdeo who, it is said, was very proud of his supernatural powers. He went to visit Dnyaneshwar, the noted saint-poet, by riding on a tiger, and using a poisonous cobra as a whip. The saint decided to humiliate Changdev by deriding his supernatural powers and made the inanimate masonry wall on which he was sitting with his brothers and sister move to meet the approaching Changdev. On seeing this strange spectacle Changdev lost all his pride, bowed in submission to Dnyaneshvar and asked for his forgiveness. The main temple of Changdev was built in the mid-1600s. Though very old, the temple of Changdev Maharaj is a simple structure with a mandap of 50'x30', open on all sides and covered with a roof of corrugated iron sheets having slope on four sides supported by a wooden frame and ten uncarved wooden pillars about eight feet in height. There is a small quadrangular gabhara wherein small idols of Vitthal and Rakhumai of black stone, facing east are placed. One can enter the gabhara through a small door. However, one cannot see the samadhi of Changdev which is just behind the backwall of the inner sanctum. The samadhi is built in well-dressed black stone in a quadrangular form of 6'x4' and paved with marbles, at the centre of which two foot-prints of marble are placed on a little raised platform under a small dome of about 4 feet in height. One has to ascend a flight of steps to see the foot-prints. The temple including the samadhi is surrounded by a wall 100'X70' built in mud and stone at a distance of about 10' on all the sides of the temple. The Godavari river which flows to the west of the temple provides a delightful scenic background during the monsoon season but is reduced to a trickle by January. The temple holds its annual fair in Kartik. It is attended by about twenty-five thousand people from all over the district.
Satyanidhi Tirtha, 17th century Hindu Saint and 19th peetadhipathi of Uttaradi Math of Dvaita Vedanta.
Ramchandra N. Chitalkar,, the Hindi filmmusic director who composed many all time favourites of the 1940s & 1950s.
Farmers’ strike
In 2017, the idea of a farmers’ strike was born in Puntamba. On April 2017, the village panchayat assembly had passed the resolution to strike on 1 June 2017. Farmers had decided to cut off food and milk supplies to cities or sow in Kharif. The main demands were implementation of the MS Swaminathan committee's recommendation, a loan waiver, better prices for milk, and pensions for farmers. The strike had a fast impact from the use of social media, which led to statewide agitation and further triggered agitation in several other states. After meeting with farmers’ representatives, the Government of Maharashtra had announced a loan waiver scheme.