Curbs on PMC Bank extended by 3 months, lender gets four revival proposals

The bank had invited EoIs from eligible investors for investment/equity participation for its reconstruction

The Reserve Bank of India (RBI) has extended the restrictions on the troubled Punjab and Maharashtra Cooperative (PMC) Bank by three months till March 31, 2021. 

Meanwhile, the bank has informed RBI that it has received four proposals from investors to revive the bank in response to the expression of interest (EoI) it had invited.

“These proposals will be examined by the bank with regard to their viability and feasibility taking into account the best interest of the depositors. To undertake this process, the bank would need some more time,” the RBI said.

The bank had invited EoI from eligible