Centrum Group and BharatPe to invest in PMC Bank in a $300m deal.

Centrum Group, a diversified financial services group, and BharatPe, an Indian fintech startup, are set to invest in PMC Bank, a multi-state co-operative bank, in a $300m deal. "By Q4 of 2021, we are expecting PMC to be a fully functional and operating bank. But how different depositors will be able to withdraw their deposits is what we will disclose over the next few weeks... We hope to start providing our merchants with banking and account opening services with PMC Bank on the BharatPe app by January 1, 2022," Ashneer Grover, BharatPe Co-Founder.