Centrum-BharatPe, Liberty group in race for beleaguered PMC Bank

Topics Centrum Group | Liberty | PMC Bank

Steel baron Sanjeev Gupta’s Liberty Group of the UK, the Jaspal Singh Bindra-led Centrum group and BharatPe combine, and two business families from Mumbai and Hyderabad have expressed interest for beleaguered Punjab and Maharashtra Co-operative Bank (PMC Bank). This is the first time that corporates, non-banking financial companies, and high-net-worth individuals have shown eagerness in taking over an urban-cooperative bank (UCB). The development comes a month after a Reserve Bank of India’s Internal Working Group report made a case for corporate ownership of banks. &ld.....

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