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BharatPe confirms it is looking to acquire PMC Bank: Report

In an interview to CNBC-TV18, BharatPe said it was bidding for the lender with Centrum.

January 18, 2021 / 07:38 PM IST

Payments services company BharatPe on January 18 said it is keen on acquiring Punjab and Maharashtra Cooperative (PMC) Bank.

In an interview to CNBC-TV18, the company confirmed its plan to acquire the lender.

On January 16, Bharat Pe and Centrum submitted a combined offer for the troubled lender.

As per reports, in the joint bid for PMC Bank, BharatPe and Centrum could pay back 100 percent to retail depositors, who want to withdraw.

The Reserve Bank of India (RBI) on December 18 said PMC Bank has received four Expressions of Interest (EoI) but did not specify the suitors. The banking regulator also extended the restrictions on PMC Bank by another three months till March 31, 2021.

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Moneycontrol News
first published: Jan 18, 2021 07:11 pm

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