BharatPe to give fintechs platform with PMC play

BharatPe has said that partnering Centrum Finance in a new bank, as part of the PMC Bank rescue, will enable it to provide a tech platform for all fintechs.

Resilient Innovations, the tech company that owns the BharatPe trademark, will bring in half of the Rs 900-crore startup capital that will be needed to set up a new small finance bank together with Centrum Financial Services, which will take over the failed PMC Bank. Centrum will contribute its share, which will include assets of the non-banking financial companies (NBFCs) that will be transferred through a slump sale to the proposed small finance bank.