Three offers received for PMC Bank resolution, says RBI Governor

"I have been informed that three final offers have been received. I am given to understand that the PMC Bank itself is evaluating the offers," the RBI governor told

Mumbai: Reserve Bank Governor Shaktikanta Das on Friday said three investors have submitted their offers for reconstruction of crisis-ridden Punjab and Maharashtra Co-operative (PMC) Bank and evaluation for those are underway.

Last month, PMC Bank administrator A K Dixit in a letter to customers and stakeholders had informed that three prospective investors were given time till February 1, 2021 for submission of their final offer. “I have been informed that three final offers have been received. I am given to understand that the PMC Bank itself is evaluating the offers,” the RBI governor told reporters after announcing the monetary policy.

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He said once the evaluation is done, the bank would approach the RBI. In September 2019, the RBI had superseded the board of PMC Bank and placed it under various regulatory restrictions after detection of certain financial irregularities, hiding and misreporting of loans given to real estate developer HDIL.