As latest reports indicated, Public sector lender Punjab National Bank has raised Rs 1,000 crore through long-term bonds to fund business development and meet Worldwide capital sufficiency standards.
A part from this, the government has decided to provide Rs 870 crore to the bank as a feature of capital infusion plan.
Finance Minister Arun Jaitley in the Budget had said that “to be in accordance with Basel-III standards there is a necessity to infuse Rs 2,40,000 crore as value by 2018 in our banks. To meet this enormous capital prerequisite we have to raise extra resources to satisfy this commitment”.
