NEWS

PNB gets nod to raise Rs 6,000 cr via bonds

Punjab National Bank’s board has approved raising up to Rs 6,000 crore by issuing bonds.

Punjab National Bank’s board has approved raising up to Rs 6,000 crore by issuing bonds. 

The decision was taken at the meeting of the board of directors on Friday. 

In a regulatory filing, the bank said its board has "approved raising of capital through issue of Basel III additional Tier-1 (AT-1) bonds or Tier II bonds or a combination of both in one or more tranches up to an amount of Rs 6,000 crore".