Punjab & Sind Bank — Credit Ratings, 23-10-2024: Credit Rating- New

India Ratings has assigned an 'IND AA/Stable' rating to Punjab & Sind Bank's proposed ₹3,000 crore infrastructure bonds. The positive rating reflects the bank's strengthened capital buffers, improved profitability, and effective management of asset quality, despite ongoing challenges in enhancing its low-cost liability franchise. The outlook remains stable due to expected support from the government, which holds a majority stake in the bank.