When is the rescue of PMC Bank by Centrum likely to happen?
Answer
Answer
Unity Small Finance Bank, the entity jointly promoted by Centrum Financial Services and BharatPe, has already commenced operations on 01-Novemmber. It may be recollected that Unity SFB was specifically formed under the instructions from RBI to take over the activities of the PMC Bank.
Centrum Financial provides business credit to SMEs in the range of Rs.2 lakh to Rs.2 crore. Going ahead, Centrum and BharatPe will be equal in the Unity Small Finance Bank. Centrum is headed by former Standard Chartered India head Jaspal Bindra.