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Centrum may submit formal bid to acquire PMC Bank next week BharatPe and Centrum Group are among four groups that have made the submissions to the Reserve Bank of India (RBI) for the acquisition of PMC Bank BusinessToday.In | January 14, 2021 | Updated 19:04 IST Last date for submission of EoIs for PMC Bank was December 15, 2020 Financial services firm Centrum Group plans to make a formal bid for the crisis-hit Punjab and Maharashtra Cooperative (PMC) Bank next week. The two-decade old integrated financial services group had submitted an expression of interest (EoI) along with payments compa...

BENGALURU: Merchant payments startup BharatPe and financial services firm Centrum Group have submitted a joint expression of interest (EoI) to the Reserve Bank of India (RBI) to take over scam-hit Punjab and Maharashtra Cooperative (PMC) Bank, a source aware of the matter said. Centrum Group is co-promoted by Jaspal Bindra, a former Standard Chartered honcho. BharatPe and Centrum will hold equal stakes in the venture. Sources added Ludhiana-born British businessman Sanjeev Gupta’s Liberty House Group has also submitted an EoI to the RBI. The central bank has got four EoIs for PMC Bank. The...

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...

Bharat Pe, Centrum in race to acquire PMC Bank; submit joint EoI to RBI Bharat Pe and Centrum Group are among four groups which have made the submissions to the Reserve Bank of India (RBI) for the acquisition. Meanwhile, both Bharat Pe and Centrum will hold equal stakes in the venture BusinessToday.In | December 21, 2020 | Updated 13:48 IST If successful, the acquisition will boost Bharat Pe's lending business as it targets to build a Rs 5,000 crore loan book in two years Indian QR code-based payment app Bharat Pe and financial services company Centrum Group have reportedly submitted a join...

Synopsis If successful, an acquisition will boost BharatPe’s lending business. It aims to build a Rs 5,000-crore loan book in two years (This story originally appeared in on Dec 21, 2020)Merchant payments startup BharatPe and financial services firm Centrum Group have submitted a joint expression of interest (EoI) to the Reserve Bank of India (RBI) to take over scam-hit Punjab and Maharashtra Cooperative (PMC) Bank, a source aware of the matter said. Centrum Group is co-promoted by Jaspal Bindra, a former Standard Chartered honcho. BharatPe and Centrum will hold equal stakes in the ventur...