 "PMC Bank")
The Reserve Bank of India (RBI) on Tuesday said despite exploring various options for the resolution of Punjab and Maharashtra Co-operative (PMC) Bank, it is yet to come up with a plan for its revival. It has also appointed AK Das, ex-general manager at Union Bank of India, as the new administrator of the bank, with effect from September 23.
The present administrator, JB Bhoria, stepped down from his role as the administrator of the bank due to health reasons.
“While the administrator of PMC bank and the RBI have been exploring various options for resolution of the bank, several
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