Live Mint reports the administrator of PMC Bank has established contact with bidders like NBFCs, industrialists and commercial banks to bail out the beleaguered bank with a minimum capital infusion of Rs 25,000 crore.
The fresh effort to woo bidders is backgrounded by PMC Bank’s failure to get a positive response from suitors in the past.
A source is quoted saying the investors may not face too many difficulties as they can make a request for conversion of the troubled bank into a small finance bank or get permission from the apex bank to manage it as a private sector bank.
It is worth mentioning that equipped with a full-fledged licence and one-third of its losses capable of conversion in income tax rebate, PMC Bank remains easy to take over.