PNB to seek Rs. 5,431-crore capital infusion from govt.

PNB to seek Rs. 5,431-crore capital infusion from govt.


New Delhi: Punjab National Bank (PNB) on September 26 said it plans to seek Rs 5,431 crore capital support from the government a day after Finance Minister Arun Jaitley assured state-owned banks of all support from the government. The meeting of the bank's board will take place Thursday for considering infusion of Rs 5,431 crore by the government by way of preferential issue of equity share and fixing date of extra-ordinary general meeting (EGM) for obtaining shareholders' approval in this regard, PNB said in a filing to stock exchanges. The finance minister Tuesday committed capital support to banks after meeting heads of public sector lenders. The government in July decided to infuse Rs. 11,336 crore in five state-owned lenders including PNB, Corporation Bank and Andhra Bank to help them meet regulatory capital requirement. The infusion was part of remaining Rs. 65,000 crore out of Rs. 2.11 lakh crore capital infusion over two financial years.

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