[ad_1] RBI has prepared a draft plan for PMC Bank’s amalgamation with Unity Small Finance Bank Reserve Bank of India (RBI) on Monday unveiled a draft scheme for amalgamation of the troubled Punjab and Maharashtra Cooperative Bank (PMC) and Unity Small Finance bank (USFB). The draft plan proposes USFB taking over the assets and liabilities […]
[ad_1] In September 2019, RBI superseded the board of PMC Bank and placed it under restrictions The Reserve Bank on Friday extended the regulatory restrictions on Punjab and Maharashtra Cooperative (PMC) Bank by another six months till December 2021 to enable the completion of its takeover by Centrum Financial Services. Paving the way for takeover […]
[ad_1] Reserve Bank of India has approval to Centrum Financial Services Ltd to form a small finance bank With the Reserve Bank of India (RBI) having given a period of 120 days to Centrum Financial Services Ltd (CFSL) to set up a small finance bank, which will eventually take over the troubled Punjab and Maharashtra […]
[ad_1] RBI gave its nod for in-principle approval to Centrum Financial Services to set up small-finance bank Highlights RBI’s approval to Centrum Financial will pave way for PMC Bank takeover In 2019, RBI had placed the PMC Bank board under suspension PMC Bank’s NPA stood at Rs 3,518.89 crore at end-March, 2020. The Reserve Bank […]
[ad_1] The central bank imposed the withdrawl cap on Deccan Urban Co-op bank citing its financial position The Reserve Bank of India (RBI) has imposed a withdrawal cap of Rs 1,000 on customers of the Deccan Urban Co-operative Bank and has barred the lender from granting new loans or accepting deposits due to its liquidity position. The […]