(PTI)
The board of Punjab National Bank (PNB) Thursday approved proposal to seek Rs 5,431 crore capital support from the government. The capital infusion of Rs 5,431 crore by the Centre would be through preferential allotment of the bank’s equity shares at a price determined as per the regulation, PNB said in a filing to stock exchanges. The extra general meeting (EGM) in this regard will be held on October 30, it said.
The finance minister Tuesday Tuesday committed capital support to banks after meeting heads of public sector lenders. “Some of them did mention that the PCA (prompt corrective action) guidelines should be revisited because that is indirectly impacting their lending ability and that government should be more upfront in the capital requirement of some of these banks.
