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NCUI President, Dileep Sanghani has welcomed the merger of PMC Bank with Unity Small Finance Bank. However, he said that it has to be ensured that the depositor
Pooh Poohing the Unity Small Finance Bank's assurance that 96% of the PMC Bank depositors would be given their money, Deepika Sahani, Coordinator of Account Holders Association said that it is nothing
Unity SFB also stated that these depositors can choose to either withdraw or retain this amount with Unity Bank; or make additional deposits.
All the branches of the PMC Bank will function as branches of Unity Small Finance Bank Ltd. with effect from this date, January 25, 2022, RBI said in a statement.
The Indian government on Tuesday notified the amalgamation of Punjab & Maharashtra Co-operative Bank Ltd (PMC Bank) with Unity Small Finance Bank Ltd (USFBL).