PNB's Board to consider capital infusion of Rs 5,431 cr from government

Mumbai : Lender Punjab National Bank's Board will consider a proposal for capital infusion of Rs 5,431 crore from the central government by way of preferential issue of equity share.

According to a BSE filing made on Wednesday, PNB's Board of Directors will meet on September 27 "for considering infusion of Rs 5,431 crore by Government of India by way of preferential issue of equity share".

In addition, the board will fix the date of an Extraordinary General Meeting (EGM) for obtaining "shareholders' approval in this regard at a price determined in terms of SEBI (ICDR) Regulations".