Media reports say the scam hit PMC Bank would like equity investment for revival of the bank. The bank says the new buyer has to take over management control for bringing the bank back to life again.
The prospective investors are supposed to submit Expressions of Interest (EOIs) by mid-December. Following the revelation of financial irregularities RBI had placed the bank under various restrictions.
It bears recall that the crisis-ridden had given massive hidden and misreported loans to real estate developer HDIL.