Punjab National Bank to Consider Infusion of Rs 18,000 Crore at Board Meet
The government said that the bank, in a regulatory filing earlier, had said the board will also consider the amalgamation of the Oriental Bank of Commerce and United Bank of India with it.
File photo of Punjab National Bank.
Mumbai: The Punjab National Bank (PNB) on Monday said that its board would consider capital infusion of up to Rs 18,000 crore on its board meeting on September 5.
The bank, in a regulatory filing earlier, had said the board will also consider the amalgamation of the Oriental Bank of Commerce and United Bank of India with it, as announced by the government on Friday.
The PNB had earlier said that its board would consider capital infusion of Rs 16,500 crore by the government in its September board meet.
"The board will consider capital infusion up to Rs 16,500 crore by Government of India by way of preferential issue of equity shares and fixing date of Extraordinary General Meeting (EGM) for obtaining shareholders' approval in this regard at a price determined in terms of SEBI (ICDR) Regulations," the company had said in a BSE filing.
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