PNB to Raise up to $1.5 Billion via MTN Programme

Punjab National Bank's Board of Directors has approved the establishment of a Medium-Term Note (MTN) Programme, allowing the bank to raise foreign currency funds up to USD 1.5 billion. The funds will be raised through the issuance of bonds under this programme, facilitated by PNB's IFSC Banking Unit in GIFT City. The board meeting, which commenced at 1:00 p.m. and concluded at 7:00 p.m. on July 29, 2026, also saw the approval of this strategic fundraising initiative. This move aims to bolster the bank's foreign currency resources and support its international operations.