<p>Public sector Punjab & Sind Bank (PSB) on Tuesday said the government has okayed infusion of Rs 5,500 crore capital into the bank in lieu of preferential allotment of shares.</p>.<p>The bank is in receipt of letter dated November 10, 2020 from the Ministry of Finance regarding sanction to infuse an amount of Rs 5,500 crore, it said in a regulatory filing.</p>.<p>The capital infusion, the lender said, is towards the contribution of the central government in the preferential allotment of equity shares of the bank during financial year 2020-21.</p>.<p>The government's shareholding in the bank as of September 30, 2020 stood at 83.06 per cent, as per data on BSE.</p>.<p>Stock of PSB closed 3.50 per cent higher at Rs 11.23 apiece on BSE on Tuesday.</p>
<p>Public sector Punjab & Sind Bank (PSB) on Tuesday said the government has okayed infusion of Rs 5,500 crore capital into the bank in lieu of preferential allotment of shares.</p>.<p>The bank is in receipt of letter dated November 10, 2020 from the Ministry of Finance regarding sanction to infuse an amount of Rs 5,500 crore, it said in a regulatory filing.</p>.<p>The capital infusion, the lender said, is towards the contribution of the central government in the preferential allotment of equity shares of the bank during financial year 2020-21.</p>.<p>The government's shareholding in the bank as of September 30, 2020 stood at 83.06 per cent, as per data on BSE.</p>.<p>Stock of PSB closed 3.50 per cent higher at Rs 11.23 apiece on BSE on Tuesday.</p>