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PNB to get Rs 1,284 crore capital infusion from govt

31 Jan 2012 Evaluate

Punjab National Bank (PNB) has approved a fund infusion to the tune of 1,285 crore through preferential issue of shares to the government. The board in its meeting approved issuance of shares of face value of Rs 10 each on preferential basis in favour of Government of India, aggregating to Rs 1,285 crore, subject to necessary approvals. The capital infusion would raise government's stake in the bank. At present, the Government of India holds 58 per cent stake in PNB. Last year, PNB got a capital infusion of Rs 184 crore from the government. In 2010-11, the government provided capital support to the tune of Rs 20,157 crore to public sector banks.

PNB Share Price

114.45 0.35 (0.31%)
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Peers
Company Name CMP
SBI 1103.25
PNB 114.45
Canara Bank 145.00
Bank Of Baroda 283.80
Union Bank Of India 194.75
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