Key Points
The banks capital adequacy ratio was 17.1% as of March 31, 2023, marginally lower than 18.54% a year ago...
The Rs 250 crore capital raise planned by Punjab & Sind Bank (PSB) this fiscal will not only help in future expansion plans and act as a buffer against any eventuality but will also help make a difference in perceptions about the lender...
Speaking to FE, Swarup Kumar Saha, managing director and CEO, PSB, said: As a bank, we need to prove that we are able to raise capital on our own..
Saha said the bank is focusing on a transformation to place it in a unique position, use more technology for its processes, launch new products and penetrate more markets..
Some of the future digital initiatives will include online current account opening. Further, technology will play a big part in the transformation of underwriting skills, he said, adding that another focus area would be enhancing the capability of analysing data...
You might be interested in
Demat account nomination to bank locker agreement: Top five personal finance tasks to complete by December 31
20, Dec, 23Changes coming into effect from January 1, 2024 include providing a choice of nomination for Demat account holders, deactivating inactive UPI IDs, signing a new agreement for bank lockers, and eliminating paper-based KYC for SIM cards