'No capital infusion from govt needed in current fiscal'

New Delhi: Punjab & Sind Bank would not require further capital infusion from the government to meet growth needs during the current fiscal year, the top official of the bank said.

During the previous two years, the government infused Rs 5,500 crore and Rs 4,600 crore through non-interest bearing recap bonds.

With the infusion of Rs 4,600 crore, the government holding in the bank increased to 98.25 per cent as on March 31, 2022.

Capital adequacy ratio of the bank improved to 18.54 per cent in March 2022 from 17.06 per cent as at March-end 2021 with the help of capital support from the government, bank's MD and CEO S Krishnan said.

The bank is sufficiently capitalised to meet expected credit growth in this financial year and may not need support from the government,

he said.