Punjab & Sind Bank has allotted Basel III compliant bonds on private placement basis worth up to Rs 1,000 crore. The bonds allotted are perpetual in nature, meaning there is no maturity period and it can be converted to equity as well.
Punjab & Sind Bank’s primary business is taking deposits, and making advances and investments, and is principally divided into retail banking, corporate banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance, distribution of mutual funds and pension and tax collection services.
