PNB mulls options of raising capital to meet Basle-III guidelines
Date: 22-09-2014Punjab National Bank (PNB), one of the country’s largest lenders, at its board meeting held on September 19, 2014 discussed about various options of raising capital to meet Basle-III guidelines & also to fund the general business needs of the bank.
The board decided to explore the avenues for raising capital through QIP/FPO/Rights Issue; allotment of Shares to Employees under Employees Stock Purchase Scheme (ESPS)/any other scheme and raise Basel III compliant additional Tier-I Capital Bonds.
The above is however subject to approval of the Government of India/Share Holders/ Reserve Bank of India and such other Statutory/Regulatory authorities as applicable.