Punjab and Sind Bank Bonds

Hi I would like to have information about the plan of bank to raise the capital through the Basel III consistent Tier II bonds through private arrangement?

[sumit]

State-possessed Punjab and Sind Bank will raise Rs 500 crore by issuing Basel III consistent bonds through private arrangement.

The Bank plans to raise Basel III consistent Tier II bonds through private arrangement totaling up to Rs 500 crore.

The proposed security issue has been evaluated as "AA" via CARE and "AA" (negative standpoint) by Crisil.

The offers for issue of bonds should be welcomed through electronic offering stage (EBP)

The standards are being actualized to relieve worries on potential weights on resource quality and important effect on execution and benefit of banks.

Being executed in stages since April 1, 2013, India is relied upon to completely actualize Basel III gauges by March 2019.

This will adjust full usage of Basel III in India nearer to the globally concurred date of January 1, 2019.