State-run Punjab National Bank (PNB) today said its board has approved to issue and allot up to 10 crore new shares of bank in one or more tranches to its employees under Punjab National Bank Employees Share Purchase Scheme (PNB-ESPS).
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.
Allahabad Bank and United Bank earlier in December had announced to offer their employee stock option (ESOP) scheme.
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