PMC Bank merged with Unity Small Finance Bank

Daily Current Affairs / PMC Bank merged with Unity Small Finance Bank

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Category : Business and economics Published on: January 29 2022

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The Central government has sanctioned and notified the scheme for the merger of Punjab and Maharashtra Co-operative Bank Ltd (PMC Bank) with Unity Small Finance Bank Ltd. (USFBL).
The merger came into effect on January 25, 2022.
Unity SFB is a joint venture between Centrum Group and BharatPe.
It commenced operations as a small finance bank (SFB) with effect from November 1, 2021.