Punjab & Sind Bank has received approval from its board to raise equity capital worth Rs 4,600 crore by issuing preference shares to the government. The decision was taken at the board meeting held on February 17, 2022.
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.
