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RBI governor Shaktikanta Das on Friday disclosed that three investors have submitted their offers for the reconstruction of the Punjab and Maharashtra Co-operative (PMC) Bank. Evaluation of these proposals are underway. Last month, PMC Bank administrator A.K. Dixit informed in a letter to customers and stakeholders that three prospective investors were given time till February 1, 2021 for the submission of their final offers. “I have been informed that three final offers have been received. I am given to understand that PMC Bank itself is evaluating the offers,” Das told reporters after a...

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...

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...