Punjab National Bank’s board approves raising ₹6,000 crore

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Punjab National Bank (PNB) on Friday said its board has approved raising up to ₹6,000 crore by issuing bonds.

The decision was taken at the meeting of the board of directors on Friday.

In a regulatory filing, the bank said its board has “approved raising of capital through issue of Basel III additional Tier-1 (AT-1) bonds or Tier II bonds or a combination of both in one or more tranches up to an amount of ₹6,000 crore”.

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