Punjab & Sind Bank is going to allot preferential shares to the government next month in lieu of Rs 5,500 crore capital infusion into the bank. An extraordinary general meeting of the shareholders of the bank is scheduled on March 25, 2021 for preferential issue of equity shares to the government up to Rs 5,500 crore.
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.
