The Punjab & Sind Bank MTN programme of up to USD 1 billion received board approval on September 29, 2026, according to a BSE filing. The board authorised the establishment of the Medium-Term Note programme to raise foreign currency funds and approved the issuance of bonds under it.

The decision sets out the bank's proposed fundraising framework and its maximum programme size. The USD 1 billion figure refers to the upper limit approved for the MTN programme; the filing does not report that the bank has already raised that amount.

The disclosure covers both the establishment of the programme and bond issuance within that framework. It does not specify the size of any individual bond issue.

Approval covers programme and bond issuance

Punjab & Sind Bank informed the exchanges that its board had approved raising foreign currency funds through the MTN route. The outcome notice provides the programme ceiling but does not set out a detailed issuance timetable or transaction terms.

No coupon, bond maturity, issue price or investor allocation is specified in the supplied filing. It also does not identify a particular use for the funds beyond stating that the bank intends to raise foreign currency funding.

For readers tracking the proposed borrowing, the disclosed event is therefore board approval for the programme and bonds under it. The notice provides no completed issuance or subscription figures.

Meeting and exchange disclosure

The board meeting began at 2:30 p.m. and concluded at 4:30 p.m. on September 29. The BSE announcement carries a timestamp of 5:10 p.m. on the same day.

The bank submitted the outcome under Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was addressed to both BSE and the National Stock Exchange.

Company Secretary Saket Mehrotra signed the filing. It identifies the bank by BSE scrip code 533295 and NSE symbol PSB, with EQ as the NSE series.

Source: BSE corporate announcement.