The 13th M.R.Pai Memorial Award, constituted by the leading bank of Maharashtra, Punjab and Maharashtra Cooperative Bank (PMC Bank) was bestowed on A.P.Hota, Ex Managing Director and CEO of National Payments Corporation of India (NPCI) for the year 2017 at IMC Chamber of Commerce and Industry premises, Churchgate in Mumbai.
The award was instituted by the UCB in the memory of M R Pai, a well-known crusader for consumer rights, especially in banking and telecom sectors.
The Award consists of a cheque of Rs 1 Lakh and Citation which was presented to Hota by H.P.Ranina, President, Forum of Free Enterprise who was the chief guest on the occasion. The selection of the awardees is done by the All India Bank Depositors’ Association (AIBDA), which was founded and led by Mr Pai for several decades.
PMC Bank Chairman S.Waryam Singh, Managing Director Joy Thomas, Mrs Geeta Pai, Mr. Minoo R. Shroff, Mr S.S.Bhandare, President All Indian Bank Depositors Associations (Mumbai) and others were present on this occasion.
Money Life Foundation and Kishori J.Udeshi, Former Deputy Governor of RBI had bagged the 10th and the 11th M.R. Pai Memorial Award respectively.
It bears recall that PMC Bank is the first Multi State Scheduled Bank to issue Rupay Credit Card at the rate of unbelievable one percent Interest.