Punjab & Sind Bank has received approval for raising equity capital up to an amount of Rs 500 crore through Qualified Institutional Placement (QIP) route in one or more tranches within the next 12 months. The meeting of Board of Directors of the bank held on May 05, 2020 approved the same.
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.
