Centrum Capital surge 16% as RBI approves to set up small finance bank
The joint venture floated by the Centrum Group and digital payments startup c for launching a small finance bank will infuse Rs 1,800 crore capital into troubled Punjab & Maharashtra Cooperative Bank (PMC) on its merger with the proposed bank, a top Centrum official has said. On Friday, the RBI gave an in-principle approval to Centrum Financial Services, to set up a small finance bank (SFB) provided it took over the troubled PMC Bank.