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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 identities of the other two contenders are not known yet. On Friday, the RBI extended the restrictions on PMC bank till March 2021, by when it is expected to study the proposals of the suitors. ....
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 joint expression of interest (EoI) to the Reserve Bank of India (RBI) to collectively take over the troubled Punjab and Maharashtra Cooperative (PMC) Bank. ....
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 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 identities of the other two contenders are not known yet. On Friday, the RBI extended the restrictions on PMC bank till March 2021, by when it is expected to study the proposals of the suitors. ....
Financial services group Centrum in PMC race The RBI announced that Punjab and Maharashtra Cooperative Bank has received four investment proposals to take over management control, revive the bank and commence regular operations Centrum, the Mumbai-based financial services group, has thrown its hat into the ring to acquire troubled-lender Punjab and Maharashtra Cooperative (PMC) Bank. On Friday, the Reserve Bank of India (RBI) announced that PMC Bank has received four investment proposals to take over management control, revive the bank and commence regular operations. This was confirmed by a spokesperson of the Centrum group to The Telegraph. “PMC Bank made an open invitation for a potential investment in the bank. Centrum group has submitted an expression of interest (EoI) for the same,” the spokesperson disclosed. ....
December 14, 2020 Lucknow Municipal Corporation (LMC) has become first in North India to have its bond listed on the Bombay Stock Exchange (BSE) in the presence of Uttar Pradesh Chief Minister Yogi Adityanath early this month. The response was overwhelming with subscription of over 200 crores within no time. UP achieved second rank in Ease of Doing Business motivating the Industrial Houses to avail the benefit of investment friendly liberal policies and rapidly developed infrastructural facilities. “The listing of 200 crores Municipal Bond is a step ahead for UP on the path of ‘self-reliance’. “Uttar Pradesh will play a pivotal role in fulfilling the commitment of Prime Minister of Atmanirbhar Bharat”, CM Yogi Adityanath asserted in a ringing bell ceremony in the Heritage Hall BSE and described the listing of the bond as ‘the starting of a new era’ in the history of the state. ....