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Punjab & Sind Bank inks pact to buy 2% stake in NARCL

12 Mar 2022 Evaluate

Punjab & Sind Bank has entered into an agreement to buy 2 percent stake in asset reconstruction company National Asset Reconstruction Company (NARCL) for Rs 55 crore. The equity investment would be done in tranches, with the first investment of Rs 28.18 crore expected to be completed by March 31, 2022. The financial investment is being done to ensure prompt resolution, including recovery of NPA (non-performing assets) accounts.

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.

Punjab & Sind Bank Share Price

25.10 0.12 (0.48%)
13-Jul-2026 16:59 View Price Chart
Peers
Company Name CMP
State Bank Of India 1036.90
PNB 106.35
Bank Of Baroda 250.65
Canara Bank 129.30
Union Bank Of India 170.40
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