PMC Bank suitors face additional capital rider; RBI board meet on March 19

Suitors for Punjab and Maharashtra Co-operative Bank (PMC Bank) may have to infuse additional capital of nearly Rs 750 crore so that the payout per depositor is more than the Rs 5 lakh sum assured by the Deposit Insur­ance and Credit Guarantee Corporation (DICGC).  The Reserve Bank of India (RBI) has also slotted its board meeting on March 19 in Mumbai — a fortnight short of the current deadline to find a resolution for the beleaguered bank and the moratorium placed on it comes to an end. Sources close to the PMC Bank transaction said that the central bank wants the .....

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