PNB GETS APPROVAL TO RAISE ~6,000 CR THROUGH BONDS

The board of Punjab National Bank has approved the raising of capital through Basel-iii compliant additional Tier-1 (AT-1) bonds and Tier-ii bonds up to ~6000 crore. The plan approved by the board includes raising AT-1 bonds or AT2 bonds or a combination of both. The capital would be raised in one or more tranches, the lender said in an exchange filing.