Punjab and Sind Bank's Rs 60 crore bond issue with a greenshoe option of Rs 40 crore has been fully subscribed on the first day of opening on Thursday. "The Rs 100 crore bond issue with the tenure of 82 months and coupon rate of 13.25 per cent was subscribed within one hour of its opening," said a bank release. The issue was lead managed by SBI Capital Markets, DSP Merrill Lynch, PNB Capital Market Services and BoB Capital Market.

MRTPC exempts PSU banks from charge

The Monopolies and Restrictive Trade Practices Commission (MRTPC) has discharged five nationalised banks from charges of restrictive trade practices in renting out safe deposit lockers to the customers. The five PSU Banks--Central Bank of India, Vijaya Bank, United Commercial Bank, Punjab National Bank and Canara Bank--were allegedly charging caution money for renting the lockers against the RBI guidelines.

Repo window dry

The Reserve Bank of India did not receive any application for its fourday fixed rate repo in Government of India dated securities for parties holding sgl and current account. The interest rate for the fixed rate repo was pegged at 6 per cent.