- Apprentice Lawyer
Yes Bank and PMC Bank fundamentally different; PMC Bank had really precarious financials: RBI tells Delhi HC
The averment was made by the Reserve Bank of India (RBI) in its affidavit submitted to the Court.
The Reserve Bank of India has informed the Delhi High Court that the case of Punjab & Maharashtra Co-operative Bank (PMC Bank) is “fundamentally different” from that of Yes Bank and that the former had “really precarious financials” which has not attracted any investors for reconstruction or amalgamation. (Bejon Mishra vs UOI)