Punjab & Sind Bank approved the establishment of a Medium-Term Note (MTN) Programme up to $1 billion to raise foreign currency funds. The decision was taken at a board meeting held on September 29, 2026, marking a significant expansion of the bank's funding base beyond domestic sources.

Regulatory compliance and filing details

The intimation regarding the outcome was submitted in compliance with Regulation 30 and Regulation 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was addressed to both BSE Limited and the National Stock Exchange of India Ltd., ensuring transparency regarding the corporate action.

Meeting specifics

The Board of Directors meeting commenced at 2:30 pm and concluded at 4:30 pm on Tuesday, September 29, 2026. The primary agenda item was the approval for raising foreign currency funds through the issuance of bonds under the newly established MTN Programme. The document was signed by Saket Mehrotra, Company Secretary, on September 29, 2026.

What the Numbers Show

The approval for an MTN Programme of up to $1 billion provides Punjab & Sind Bank with a flexible framework to access international capital markets. Unlike a single bond issuance, an MTN programme allows the bank to issue notes in various tranches, maturities, and currencies over time, subject to the aggregate limit. This structure enables more efficient liability management by matching asset durations and optimizing cost of funds based on prevailing global interest rate conditions.

Punjab & Sind Bank has extended the tenure of Ravi Mehra as Executive Director till December 31, 2026, or until further orders, whichever is earlier.

Tenure extension details

The Department of Financial Services, Ministry of Finance, Government of India, issued Notification No. eF.No.4/1(v)/2025-BO.I dated September 23, 2026, extending Ravi Mehra's tenure beyond his previously notified term, which was set to end on October 8, 2026. The extension is valid till the date of his superannuation, i.e., December 31, 2026, or until further orders, whichever is earlier.

The key details of the extension are summarised below:

The disclosure was filed by Saket Mehrotra, Company Secretary of Punjab & Sind Bank, on September 23, 2026.