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Punjab & Sind Bank - Updates

India Infoline News Service | Mumbai | January 01, 2013 00:00 IST

Punjab & Sind Bank has informed the Exchange vide letter dated December 31, 2012 that the Board of Directors of the Bank has approved raising of capital through preferential issue of equity shares up to Rs. 1,000 crores at a rate to be decided in terms of SEBI [ICDR] Regulations and/or any other instrument covered under Tier-I capital, to the Government of India and/or to other institutions subject to necessary approvals from Reserve Bank of India and Government of India. The Chairman & Managing Director and in his absence the Executive Director has been authorized to take all decisions/steps relating to planning, convening, conducting extra ordinary general meeting for preferential issue of equity shares and/or any other instrument covered under Tier-I capital and any other matter relating thereto.

Punjab & Sind Bank has informed the Exchange vide letter dated December 31, 2012 that the Board of Directors of the Bank has approved raising of capital through preferential issue of equity shares up to Rs. 1,000 crores at a rate to be decided in terms of SEBI [ICDR] Regulations and/or any other instrument covered under Tier-I capital, to the Government of India and/or to other institutions subject to necessary approvals from Reserve Bank of India and Government of India. The Chairman & Managing Director and in his absence the Executive Director has been authorized to take all decisions/steps relating to planning, convening, conducting extra ordinary general meeting for preferential issue of equity shares and/or any other instrument covered under Tier-I capital and any other matter relating thereto.








 

 
 
 
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