Punjab & Sind Bank is planning to raise up to Rs 5,500 crore by way of preferential issue of equity shares. A meeting of board of directors of the bank is scheduled to be held on November 21, 2020 to consider and approve 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.
