RBI says no resolution plan yet for PMC Bank, appoints new administrator
By Administrator_India Capital Sands The Reserve Bank of India on Tuesday said it is yet to come up with a resolution plan for Punjab and Maharashtra Cooperative Bank, and named a new administrator for the crisis-ridden lender. While the central bank and the PMC Bank administrator have been exploring various options, “factors such as huge losses incurred by the bank resulting in its entire net worth getting wiped out, steep erosion in deposits, etc. continue to pose serious challenges in finding a workable plan for revival of the bank,” the…
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