RBI has given us 120 days to operationalise SFB: Centrum's Jaspal Bindra

In an exclusive interview with Business Standard, Jaspal Bindra, executive chairman of Centrum group said it has committed Rs 1,800 cr capital to the SFB, Rs 900 cr of which will come in first year

With the Reserve Bank of India granting in-principle licence to Centrum Financial Services Ltd to set up a small finance bank, it paved the way for the revival of PMC Bank as the NBFC had expressed its interest for the revival of the troubled lender. In an exclusive interview with Business Standard, Jaspal Bindra, the executive chairman of Centrum group said it has committed Rs 1800 crore capital to the SFB, Rs 900 crore of which will come in the first year. Excerpts:

What was the reason Centrum showed interest in acquiring PMC Bank? Was banking always on the agenda