The race to acquire scam-hit Punjab and Maharashtra Co-operative Bank (PMC) is heating up. Payments startup BharatPe and financial service firm Centrum are set to submit an aggressive bid to the RBI.
PMC | azlyrics.org.uk
In a first, the RBI-appointed administrator of Punjab and Maharashtra Cooperative (PMC) Bank has come up with a revival strategy where private investors can take over and convert the failed cooperative into a small finance bank and possibly capitalise part of deposits into equity.
he Supreme Court on Thursday stayed the Bombay high court order directing shifting of HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, arrested for their alleged involvement in the PMC Bank scam, from Mumbai’s Arthur Road Jail to their residence.