RBI approves Punjab & Sind Bank's IPO plan
The Reserve Bank of India has approved initial public offering (IPO) plan of Punjab and Sind Bank, reports CNBC-TV18 quoting government source.
CNBC-TV18 also learnt that Finance Ministry will approve Punjab & Sind's IPO plan in the next 15 days and this IPO is likely to hit markets by June-July 2010.
The bank aims to raise Rs 500 crore via IPO.
On April 21, the Finance Ministry said all banks needed RBI okay for IPO.