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The funds would be raised in one or more tranches within a period of 12 months.
Punjab & Sind Bank is a relatively small PSB, founded in 1908 in New Delhi. GoI's ownership stood at 98.25% as on 31 March 2023. The bank has 1537 number of branches, out of which 572 are Rural, 281 Semi-Urban, 362 Urban and 322 Metro along with 835 number of ATMs, 357 Business Correspondents.
The bank reported 32.04% jump in net profit to Rs 456.99 crore on 32.08% rise in total income to Rs 2,651.98 crore in Q4 FY23 over Q4 FY22.
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