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Three offers received for PMC Bank resolution: RBI Governor Das

Das said three investors have submitted their offers for reconstruction of crisis-ridden Punjab and Maharashtra Co-operative (PMC) Bank and evaluation for those are underway

Topics
PMC Bank | debt resolution | Shaktikanta Das

Press Trust of India  |  Mumbai 

PMC BANK
PMC Bank | Representational image

Reserve Bank Governor on Friday said three investors have submitted their offers for reconstruction of crisis-ridden Punjab and Maharashtra Co-operative (PMC) Bank and evaluation for those are underway.

Last month, administrator A K Dixit in a letter to customers and stakeholders had informed that three prospective investors were given time till February 1, 2021 for submission of their final offer.

"I have been informed that three final offers have been received. I am given to understand that the itself is evaluating the offers," the RBI governor told reporters after announcing the monetary policy.

He said once the evaluation is done, the bank would approach the RBI.

In September 2019, the RBI had superseded the board of and placed it under various regulatory restrictions after detection of certain financial irregularities, hiding and misreporting of loans given to real estate developer HDIL.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, February 05 2021. 13:58 IST
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