BharatPe joins with Centrum to bid for PMC Bank: Report
December 21, 2020 BharatPe, a third-party Unified Payments Interface player, has thrown its hat into the race to acquire the Punjab and Maharashtra Cooperative (PMC) Bank, and has joined forces with the Centrum Group for it, the Times of India reported. While the company has struggled to get a lending license from the Reserve Bank of India (RBI), if the offer is accepted it will leap frog BharatPe’s journey from a payments app to a bank overnight. In September 2019, it was revealed that PMC Bank had a ₹6,500 crore hole in its balance sheet, around 73% of its loan book. While the RBI swoop...
Source: medianama.com