Punjab & Sind Bank has received an approval for issue of equity shares of face value of Rs 10 each for an amount up to Rs 100 crore, at such price as may be decided as per SEBI (ICDR) Regulations, 2009, on preferential basis, in favour of Government of India, subject to necessary approvals. The board of directors at its meeting held on November 11, 2013 has approved for the same.
Punjab & Sind Bank, which is a GoI undertaking, is one of the six banks nationalized by the GoI in April 1980, and today, is one of 19 nationalized banks in India. In over 100 years of operation, the Bank has significantly grown its branch network with a presence predominantly in north India.
