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PMC Bank suitors face additional capital rider; RBI board meet on March 19

Rs 750 cr needed to enable payout of over Rs 5 lakh per depositor

Topics
PMC Bank | Reserve Bank of India | Indian Banks

Raghu Mohan  |  New Delhi 



PMC BANK
Sources close to the PMC Bank transaction said that the central bank wants the suitors “to go the extra mile so that depositors can get more than the Rs 5 lakh insured by the DICGC”

Suitors for Punjab and Maharashtra Co-operative Bank (PMC Bank) may have to infuse additional capital of nearly Rs 750 crore so that the payout per depositor is more than the Rs 5 lakh sum assured by the Deposit Insur­ance and Credit Guarantee Corporation (DICGC).

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First Published: Tue, March 09 2021. 06:10 IST

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