Centre increases authorized capital of Punjab and Sind Bank to Rs 10,000 crore

The Punjab and Sind bank on Wednesday said, “The Central Government has raised its authorized capital to Rs 10,000 crore.

In a filing with the exchange, the bank said, “Govt of India vide gazette notification No.f.No. 11/8/2019 BOA-I dated 06.01.2021 has increased the authorized share capital of the Bank from Rs 3,000 crore to Rs 10,000 crore.”

The fund was approved from Rs 20,000 crore declared by Parliament in September 2020 for capital infusion in PSUs as part of the first batch of supplementary demand for grants for 2021.