Government of India (GOI) has decided to infuse capital funds to the tune of Rs 1732 crore in Punjab National Bank by way of preferential allotment of equity in favour of the GOI. In this regard, the board of directors of the Bank have approved the proposal and also authorized the bank to hold extra-ordinary general meeting of the shareholders on September 28, 2015. The Bank is taking all necessary steps / approvals in this regard.
Punjab National Bank has reported 48.71% fall in its net profit at Rs 720.71 crore for first quarter ended June 30, 2015 as compared to Rs 1405.12 crore for the same quarter in the previous year. However, total income of the bank has increased by 4.73% at Rs 13432.05 crore for quarter under review as compared to Rs 12825.13 crore for the quarter ended June 30, 2014.
