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Friday, Aug 26, 2005

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PSB capital infusion

Our Bureau

New Delhi, Aug. 25

The CCEA on Thursday cleared the infusion of Rs 500 crore in Punjab and Sind Bank (PSB).

It has also permitted the bank to come out of narrow banking and lifted the embargo under the prompt corrective action.

The Government has said that the measure would help PSB reduce its gross and net NPAs to eight per cent and two per cent respectively by March 31, 2008.

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