India: BharatPe, Centrum to infuse $300m in PMC Bank following RBI nod for takeover

India: BharatPe, Centrum to infuse $300m in PMC Bank following RBI nod for takeover

FILE PHOTO: A man walks out from a PMC (Punjab and Maharashtra Co-operative) Bank branch in Mumbai, India, September 26, 2019. REUTERS/Francis Mascarenhas

Tarush Bhalla

18 June, 2021

The joint partnership between Centrum Group and BharatPe, will collectively infuse $250 million – $300 million (or upto ₹2224 crore) in Punjab and Maharashtra Cooperative (PMC) Bank, over the next two years, according to BharatPe co-founder Ashneer Grover.

Centrum Financial Services LtdPunjab and Maharashtra Co-operative Bank (PMC Bank)RBI (Reserve Bank of India)

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