FinanceInFocusNews

PNB to Introduce ESOP Scheme up to 10 Cr Shares, Stock Market to Welcome this move

Sharing is caring!

State-run Punjab National Bank (PNB) said its board has approved to issue and allot up to 10 crore new shares of the bank in one or more tranches to its employees under Punjab National Bank Employees Share Purchase Scheme (PNB-ESPS). This effort of Punjab National Bank is likely to win the trust of investors in the stock market and is getting considered as a positive effort.

The nomination and remuneration committee will decide all the matters and formulation of the ESPS scheme, PNB said in a regulatory filing.

The Government in March 2017 had allowed public sector banks to offer stock options to their employees, aimed at retaining experienced hands and better incentives besides a means of capital raise.

The recent Nirav Modi -PNB scam has created strong turbulence in the stock market and PNB’s shares have massively impacted in a negative way. ON such outset, this decision by the authorities are getting considered as major booster for stock market investors towards PNB.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

Related Articles

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: