Punjab & Sind Bank plans to raise Rs 2,000 crore to boost capital and reduce government stake.

Punjab & Sind Bank plans to raise Rs 2,000 crore through a Qualified Institutional Placement (QIP) to bolster its capital and reduce the government's stake by 3-4%. The bank, currently 98.25% owned by the government, aims to enhance its financial position and increase lending capabilities. This move is part of a broader plan to raise Rs 10,000 crore, which also includes funds from infrastructure bonds. The bank reported a significant increase in net profit for the December 2024 quarter and a decline in non-performing assets.