Centrum, BharatPe JV to invest ₹1,800 crore in PMC Bank on merger

The joint venture floated by Centrum Group and BharatPe for launching a small finance bank (SFB) will infuse ₹1,800-crore capital into PMC Bank on its merger with proposed bank. Of this, ₹900 crore will be invested in the first year, Jaspal Bindra, Centrum Group's Executive Chairman, said. The RBI has granted "in-principle" approval to Centrum to set up an SFB.