India, Jan. 18 -- Delhi-based merchant payments startup BharatPe is looking to take over scam-hit Punjab and Maharashtra Cooperative (PMC) Bank amid a major focus on expanding its financial services repertoire. The company's cofounder and CEO Ashneer Grover confirmed the bid to take over PMC in a conversation with Inc42 - BharatPe has submitted a joint expression of interest (EoI) to the Reserve Bank of India (RBI) along with financial services firm Centrum Group

The proposal is part of BharatPe's strategy to aggressively grow its loan book to INR 5,000 Cr in the next two years and focus majorly on lending as a growth vector. The company will also be raising $700 Mn in debt in the same time period, and has already raised $20.2 Mn from Al...