Centrum gets RBI’s in-principle nod to take over PMC Bank
The Reserve Bank of India (RBI) has given “in-principle” approval to Centrum Financial Services Ltd (CFSL) to set up a small finance bank (SFB), which will take over the beleaguered Punjab and Maharashtra Cooperative Bank (PMC Bank). It will get 120 days to commence operations. The amalgamation with PMC Bank is a separate process that …
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