Three gives obtained for PMC Bank decision, says RBI Governor

Reserve Bank Governor Shaktikanta Das on Friday stated three traders have submitted their gives for reconstruction of crisis-ridden Punjab and Maharashtra Co-operative (PMC) Bank and analysis for these are underway.
Last month, PMC Bank administrator A Okay Dixit in a letter to prospects and stakeholders had knowledgeable that three potential traders got time until February 1, 2021 for submission of their remaining supply.

“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 advised reporters after asserting the financial coverage.
He stated as soon as the analysis is finished, the financial institution would method the RBI.

In September 2019, the RBI had outmoded the board of PMC Bank and positioned it below varied regulatory restrictions after detection of sure monetary irregularities, hiding and misreporting of loans given to actual property developer HDIL.