Tuesday, July 27

PNB to consider Rs 18k-cr fund infusion this week

NEW DELHI: Punjab National Bank (PNB) on Monday said the board will consider capital infusion of up to Rs 18,000 crore in its meeting later this week. It comes against the backdrop of the government’s announcement on August 30 about merging 10 public sector banks into four entities, as part of which PNB will merge Oriental Bank of Commerce (OBC) and United Bank of India (UBI) with itself.

“The board shall consider capital infusion up to Rs 18,000 crore in its meeting scheduled on September 5, 2019,” PNB said in a regulatory filing.

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