SFB licence to Centrum & Bharatpe consortium

The Reserve Bank of India on Tuesday issued a small finance bank (SFB) licence to the Centrum Group-bharatpe consortium. Incorporated as Unity SFB, the lender will start operations in a few weeks with a ~1,500-crore loan book. The consortium will take over the assets and liabilities of the beleaguered Punjab and Maharashtra Co-operative (PMC) Bank.