MUMBAI: Punjab National Bank, a major public sector bank, plans to raise Rs 3,000 crore to the stock market. The bank will acquire this amount in one or two installments by issuing bonds in line with Basel-3. PNB said that the bank's board of directors will meet on September 26 to approve the proposal to raise funds. PNB has said that it will raise Rs 3,000 crore in one or more installments through bonds in line with Additional Tier-1 Basel-3. Basel-3 is an international regulatory framework.
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It aims to improve the regulation, supervision and risk management of the banking sector. Banks have to improve their capital planning process to follow the global Basel-3 regulation. These rules are followed to reduce any kind of risk associated with the asset quality of banks and to increase the performance and profit of banks.
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The Indian banking sector is adopting Basel-3 in a phased manner from April 1, 2013. It is to be fully implemented by banks by March 2020. Explain that the government has announced the merger of Punjab National Bank with Oriental Bank of Commerce and United Bank of India.
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