Punjab National Bank (PNB) has received approval from board of directors to raise up to Rs 6,000 crore by issuing bonds. The decision was taken at the meeting of the board of directors on September 10, 2021. Its board has approved raising of capital through the issue of Basel III additional Tier-1 (AT-1) bonds or Tier II bonds or a combination of both in one or more tranches up to a number of Rs 6,000 crore.
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.
