{"id":5316,"date":"2020-07-10T18:04:30","date_gmt":"2020-07-10T18:04:30","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=5316"},"modified":"2020-07-10T18:04:30","modified_gmt":"2020-07-10T18:04:30","slug":"punjab-national-bank-to-raise-rs-10000-crore-via-equity-and-debt-bfsi-news-et-bfsi","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=5316","title":{"rendered":"Punjab National bank to raise Rs 10,000 crore via equity and debt, BFSI News, ET BFSI"},"content":{"rendered":"<p><\/p>\n<div><a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/punjab+national+bank\">Punjab National Bank<\/a>\u2019s board has approved the proposal of raising funds up to Rs 10,000 crore through equity and debt sale. The bank mentioned in an exchange filing that its board gave nod to raise capital through issue of equity shares and Basel III compliant tier-2 bonds by way of private placement, <a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/qip\">QIP<\/a>, <a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/fpo\">FPO<\/a> of up to Rs 10,000 crore.<\/p>\n<p>As the state-owned lender amalgamated <a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/oriental+bank+of+commerce\">Oriental Bank of Commerce<\/a> (OBC) and <a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/united+bank+of+india\">United Bank of India<\/a> with itself, it also verified appropriation of accumulated losses of Rs 28,707.92 crore from the share premium account of amalgamated bank.<\/p>\n<p>At the same time, <a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/pnb\">PNB<\/a> has also reported a scam of Rs 3,688.58 crore in NPA account of Dewan Housing Finance Ltd (<a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/dhfl\">DHFL<\/a>) to the Reserve bank of India on July 9. DHFL came to the scene when a report suggested that the company allegedly extracted Rs 31,000 crore out of total bank loans of Rs 97,000 crore.<\/p>\n<p>The bank has already made provisions of Rs 1246.58 crore according to the specified prudential norms.<\/p>\n<p>As RBI initiated bankruptcy proceedings against DHFL due to distressed mortgage in November last year, various agencies including SFIO had also initiated inquiry against the financial service player.<\/p>\n<\/div>\n<p><script async defer crossorigin=\"anonymous\" src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&#038;version=v4.0\"><\/script><script>\n  !function(f,b,e,v,n,t,s)\n  {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n  n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n  if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n  n.queue=[];t=b.createElement(e);t.async=!0;\n  t.src=v;s=b.getElementsByTagName(e)[0];\n  s.parentNode.insertBefore(t,s)}(window, document,'script',\n  'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n  fbq('init', '905994023094530');\n  fbq('track', 'PageView');\n<\/script><br \/>\n<br \/><a href=\\\"https:\/\/bfsi.economictimes.indiatimes.com\/news\/banking\/76890446?utm_source=RSS&#038;utm_medium=ETRSS\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Punjab National Bank\u2019s board has approved the proposal of raising funds up to Rs 10,000 crore through equity and debt sale. The bank mentioned in an exchange filing that its board gave nod to raise capital through issue of equity shares and Basel III compliant tier-2 bonds by way of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5317,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-5316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/07\/punjab-national-bank-to-raise-rs-10-000-crore-via-equity-and-debt.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/5316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5316"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/5316\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/5317"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}