Latest News | Punjab & Sind Bank to Raise Rs 750 Cr Via Bonds

New Dellhi, Jun 12 (PTI) State-owned Punjab & Sind Bank on Monday said it plans to raise Rs 750 crore from bonds to fund business growth.

The decision to this effect was taken in the board meeting on Monday.

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The board has approved the raising of capital up to Rs 750 crore through the issuance of Basel-III compliant Additional Tier-I Bonds or Tier-II Bonds, the bank said in a regulatory filing.

The fundraising will be done in one or more tranches within a period of 12 months, it said.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)