Categories: Business

RBI nod to Centrum-BharatPe to Get PMC Bank takeover

NEW DELHI: The Reserve Bank of India (RBI) on Friday gave in-principle Endorsement for takeover of Both crisis-hit Punjab and Maharashtra Co-operative (PMC) Bank.

Centrum Financial Services Limited will combine hands with payment system BharatPe into takeover PMC Bank.
The RBI allowed in-principle consent to Centrum to establish a little finance lender beneath typical”instructions for’on tap’ licensing of little fund banks from the private sector”.
“The RBI would consider awarding a license for commencement of banking company under section 22 (1) of the Banking Regulation Act, 1949, on being satisfied that the candidate has complied with the necessary terms laid down by RBI as a portion of in-principle acceptance,” it stated in an official announcement.
Back in September 2019the central bank was placed curbs to the PMC bank following discovering financial irregularities like under-reporting of bad loans.

news2in

Share
Published by
news2in

Recent Posts

44 ordered to attack the procession

Ludhiana: The police have submitted FIR to four identified and at least 40 unknown attackers…

3 years ago

Punjab: Police Reject conspiracy theory in the case of Deep Sidhu

Sonīpat / Ludhiana / Ambala: Actor Punjabi - Activist Activist Deep Sidhu, who died in…

3 years ago

Punjab: Hidden Strength Working Behind PM Narendra Modi, Arvind Kejriwal, said Rahul Gandhi

PATIALA / MANSA / BARNALA: Attacking Prime Minister Narendra Modi and AAP National Convener Kejriawal,…

3 years ago

BJP made AAP to endanger the Congress, said Ajay

Jalandhar: BJP and AAM AAM AADMI parties are one party, Secretary General of the Ajay…

3 years ago

Our job is to make Punjab No. 1 State: Meenakshi Lekhi

Ludhiana: Minister of Union Culture Meenakshi Lekhi while campaigning to support the BJP candidate from…

3 years ago

Feb 20 is an opportunity to change the destiny of Punjab and his children: Bhagwant Mann

Machhiwara (Ludhiana): AAM AAM AADMI Party (AAP) Head of Punjab Candidate and Members of Parliament…

3 years ago