The Reserve Bank of India (RBI)
approved in principle Centrum Financial Services Limited and BharatPe to set up a small financial bank (SFB) on June 18, paving the way for the entity to take over Punjab, which was damaged by the crisis. And Maharashtra Cooperative Bank (PMC Bank).
With this, PMC Bank’s solution is very clear, which brings good news to PMC Bank depositors.
In a telephone interaction with UK Moneycontrol, Ashneer Grover, co-founder and CEO of BharatPe, talked about future plans.
Edited excerpt.
We created a consortium with Centrum Group and obtained the SFB license. Technically, this makes us the first fintech company in India to have its own SFB license. It depends on our performance. How can we buy good products on the market. If we do well, this will open up more licenses for the financial technology sector. This should open the door for more people.
My name is Mayank Bansal I have a keen interest in writing about the latest happenings in business and market. I am a news writer at review minute.
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