PMC Bank has got binding offers from investors for its revival, RBI says in an official statement. PMC Bank under RBI’s watch has been non-functioning since September 2019, after the Rs 6,500 crore scam came to light.
Both RBI and PMC Bank are in negotiations with potential investors so as to secure best possible terms for depositors and other stakeholders.
The binding offers have come in response to EOT floated by PMC bank.