Resolution of Meenakshi Energy is at the final stage at the National Asset Reconstruction Company of India (NARCL), while Sintex and Srei resolutions are also at an advanced stage under the Insolvency and Bankruptcy Code, he told PTI.
On capital raising, Saha said the board of the bank has already given approval for Rs 250 crore.
The bank will soon start the process of appointing merchant banks and take opinions about market conditions, he said, adding the bank would take a call on raising funds through equity or bonds. As far as the capital adequacy ratio is concerned, the bank is well capitalised at 15.57 percent and it can easily take care of business growth this year, he added.
The government’s holding in the bank stood at 98.25 percent at the end of September 2022. During the previous two years (2020-21 and 2021-22), the government infused Rs 5,500 crore and Rs 4,600 crore in Punjab & Sind Bank through non-interest-bearing recapitalisation bonds.
