Punjab & Sind Bank has received an approval to raise capital up to an amount of Rs 750 crore through issuance of Basel-III compliant Additional Tier-I Bonds or Tier-II Bonds in one or more tranches within a period of 12 months. The Board of the Bank in its meeting held on June 12, 2023, has approved 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.
