PMC Bank receives four investment proposals; restrictions extended till March 31
PMC Bank, which has been under RBI direction since September 23, 2019, has received four investment proposals from eligible investors for its reconstruction scheme
BusinessToday.In | December 18, 2020 | Updated 23:29 IST
RBI has extended restrictions on PMC Bank until March 31, 2021
Cash-strapped Punjab and Maharashtra Co-operative (PMC) Bank has received four expressions of interest (EoIs) for investment in its reconstruction scheme, the Reserve Bank of India notified on Friday. The central bank has also extended restrictions on PMC Bank by three more months until March 31, 2021.
As per the RBI, the PMC Bank, which has been under direction since September 23, 2019, has received four investment proposals from eligible investors for its reconstruction. Last date for submission of EoIs was December 15, 2020.