Business Standard

How to revive PMC Bank

Mired in corruption, politics and with a history of suicides by its hapless depositors, PMC Bank's revival is a challenge very different from Yes Bank and LVB, both for the regulator and the rescuer

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Tamal Bandyopadhyay New Delhi
The clock is ticking. After Yes Bank Ltd and Lakshmi Vilas Bank Ltd (LVB), all eyes are on Punjab and Maharashtra Co-operative (PMC) Bank.

The scam-hit co-operative bank is evaluating three bids it has received for its revival. The February 1984 born PMC Bank is a multistate urban co-operative bank. Unlike Yes Bank and LVB, where the revival plans were kept under the wraps and announced with electric speed after freezing their businesses, the last lap of PMC Bank’s revival has started only now while a moratorium was clamped on it many months ago.

On September 23, 2019, the Reserve
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First Published: Feb 21 2021 | 8:14 PM IST

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