Signals, Powered By EquityPandit
Punjab & Sind Bank will be raising Rs 500 crore through issuing Basel III compliant bonds through private placement.
It has said in a regulatory filing that “The Bank intends to raise Basel III compliant Tier II bonds through private placement aggregating up to Rs 500 crore.”
It has further said that the bids for issue of bonds shall be invited through electronic bidding platform (EBP).
Banks, as per Basel III norms, needs to improve and strengthen their capital planning processes.
