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Why RBI Stopped PNB From Investing In Its Housing Finance Unit
Considering PNB’s own capital position, RBI advised it against participating in PNB Housing Finance’s fund raise.
26 Feb 2021, 03:01 PM IST
The Reserve Bank of India stopped public-sector lender Punjab National Bank from participating in a fund raise by its housing finance subsidiary as the regulator preferred the lender use available capital for its own needs first.According to two people with direct knowledge of the matter, PNB had sought to invest Rs 600 crore as part of PNB Housing Finance’s Rs 1,800 crore fund raising plan. The bank had written to the RBI seeking pe...
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