Punjab National Bank (PNB) is planning to raise up to Rs 3,000 crore by issuing Basel III compliant bonds in one or more tranches. The bank's board of directors will meet on September 26 for approval to the fundraising proposal.
Basel III is an international regulatory framework with a set of reforms to improve the regulation, supervision and risk management within the banking sector.
PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.
