scorecardresearch
Follow Us:
Saturday, March 06, 2021

Three offers received for PMC Bank resolution, says RBI Governor

Last month, PMC Bank administrator A K Dixit in a letter to customers and stakeholders had informed that three prospective investors were given time till February 1, 2021 for submission of their final offer.

By: PTI | Mumbai |
February 5, 2021 2:18:03 pm
In September 2019, the RBI had superseded the board of PMC Bank and placed it under various regulatory restrictions after detection of certain financial irregularities, hiding and misreporting of loans given to real estate developer HDIL. (File express photo)

Reserve Bank Governor Shaktikanta Das on Friday said three investors have submitted their offers for reconstruction of crisis-ridden Punjab and Maharashtra Co-operative (PMC) Bank and evaluation for those are underway.

Last month, PMC Bank administrator A K Dixit in a letter to customers and stakeholders had informed that three prospective investors were given time till February 1, 2021 for submission of their final offer.

“I have been informed that three final offers have been received. I am given to understand that the PMC Bank itself is evaluating the offers,” the RBI governor told reporters after announcing the monetary policy.

He said once the evaluation is done, the bank would approach the RBI.

In September 2019, the RBI had superseded the board of PMC Bank and placed it under various regulatory restrictions after detection of certain financial irregularities, hiding and misreporting of loans given to real estate developer HDIL.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

Advertisement
Advertisement
Advertisement
Advertisement