A closed PMC Bank ATM at Nahur West Benny. (Source: PTI)
Eighteen months after the Reserve Bank of India placed Punjab And Maharashtra Cooperative Bank Ltd. under restrictions, the regulator’s options to resolve the insolvent lender have dwindled.In September 2019, the RBI dismissed the PMC Bank’s board and management and placed it under the charge of an administrator. In November 2020, the bank invited expressions of interest and four potential investors emerged. Discussions are underway ...