New Delhi, Nov. 2 -- The group executive chairman and also the non-executive chairman of Unity Bank, Jaspal Bindra told the press that the small finance bank begins operations with over INR 1,100 crore of equity capital, over 2 lakh customers and an asset base of over INR 2,400 crore which comes from the existing MSME and MFI credit business of the Centrum Group.

The Unity Small Finance Bank Ltd is promoted by Centrum Financial Services Ltd and Resilient Innovations Pvt. Ltd (BharatPe), merging Punjab and Maharashtra Cooperative (PMC) Bank, a multi-state cooperative lender which was about to collapse when the Reserve Bank of India seized it on 24 September 2019.

As per reports, Centrum Financial Services and BharatPe had submitted a joi...