Board of PNB approves raising funds worth Rs 12,000 cr

New Delhi: State-owned Punjab National Bank (PNB) said in a regulatory filing that "the Board of Directors of the Bank in its meeting held on Wednesday has approved raising of capital for an amount up to Rs 12,000 crore through Basel Ill Compliant AT-1 Tier II Bonds (AT-1 Bonds up to Rs 7,000 crore and Tier- II Bonds up to Rs 5,000 crore), to be raised in one or more tranches."

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