 "PMC BANK")
Sahakar Bharati – a forum of cooperative societies founded by Reserve Bank of India (RBI) board member Satish Marathe - has stepped in to offer a better deal to the depositors of the troubled Punjab and Maharashtra Cooperative (PMC) Bank.
The draft scheme of amalgamation of PMC Bank with Unity Small Finance Bank, which was announced by Reserve Bank of India, proposed a sharp haircut for depositors. The draft scheme which was announced in November last year proposed that depositors of more than Rs 5 lakh have to wait for upto 10 years to get all their money back. No
