Band Aid

The Central Bank is expected to meet the consortium of investors keen on reviving Pramuka Bank for another round of talks early next week.
With the suspension of Pramukas licence coming up next Thursday, the bank and its legal team are also expected to meet up with the Attorney Generals Dept. over the weekend, to decide on the next course of action.rn

rnIt is not clear yet, whether authorities would push for an extension to study the new proposal or push for liquidation. rn

rnThe decision to pursue with a twin course of action comes following a Monetary Board meeting late Friday.rn

rnMonetary authorities met to weigh the pros and cons of a complex proposal put forward by a consortium led by Asia Capital/Richard Peiris Group to revive Pramuka.rn

rnNatWealth Corp., who put together the complex proposal, had suggested the new investors infuse in Rs. 500 mn, while some of Pramukas depositors will convert Rs. 1.2 bn of their funds into non-voting shares.rn

rnThe plan suggested that Pramuka be rena