Business Line reports Unity Small Finance Bank will own up the erstwhile Punjab and Maharashtra Co-operative (PMC) Bank’s loan book of about ?800 crore even though it grows its micro finance and MSME (micro, small and medium enterprises) loan portfolio.
The scam-hit PMC Bank’s loans, aggregating about ?800 crore, are now part of Unity SFB’s loan portfolio following amalgamation of the former with the latter, effective January 25.
The Unity SFB is promoted by Centrum Financial Services Ltd (Centrum) with Resilient Innovations Pvt Ltd (BharatPe) as a joint investor.