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PMC bank: Wadhawans bail rejected, offence grave says court
The Wadhawan duo are accused in the multi-crore rupee Punjab & Maharashtra Cooperative (PMC) Bank scam case.
RBI doubles withdrawal limit for PMC depositors
The RBI stated that they have been in continued talks with all the stakeholders involved and ...
PMC Bank crisis: RBI doubles withdrawal limit to Rs 1 lakh
The Reserve Bank of India (RBI) on Friday doubled the withdrawal limit for Punjab ...
HC queries Centre, RBI on different treatment to PMC Bank depositors vis-a-vis Yes Bank
The court noted that as per a March notification issued by the Centre, the RBI as well as the central government had a crucial role to play in the decision taken to permit, firstly, the Yes Bank Limited Reconstruction Scheme 2020 being brought into play and, secondly, to have it funded.
PMC Bank case: High Court seeks info on health condition of Wadhawans
Justice Bharati Dangre was on Tuesday hearing petitions filed byHousing Development and Infrastructure Ltd (HDIL) promoters Rakesh Wadhawan and his son Sarang Wadhawan, seeking bail on medical grounds.
President promulgates ordinance to bring co-operative banks under RBI supervision
The Ordinance amends the Banking Regulation Act, 1949 as applicable to cooperative banks, an official statement said on Saturday. The amendments do not affect existing powers of the State Registrars of Co-operative Societies under state co-operative laws, it added.
RBI needs to revisit policy restricting big corporates from promoting banks: R Gandhi
He said the needs and aspirations of the Indian economy make it necessary to look at sources of large capital from entering the banking fray, so that large projects can be supported and also pitched for a renewed thrust to be given to the wholesale banks model.
Does RBI wants co-operative banks to wither away?
The RBI has often acted with haste and betrayed its understanding of co-operative banks.
Raise capital on anticipatory basis amid emerging vulnerabilities: RBI Governor to banks
It is crucial to raise capital and build buffers to ensure credit flow and resilience.
Three more arrested in PMC Bank scam
According to the plea, the scam impacted the livelihood of thousands of business owners and individual account-holders, and if Waryam Singh, former chairman of the bank, was given bail without hearing them, it will cause "irreparable" harm to their interests. The bank management also concealed from the regulators' scrutiny huge loan defaults by HDIL group firms.
RBI extends regulatory restrictions on PMC Bank by 3 months
"It is hereby notified for the information of the public that the validity of the directive dated September 23, 2019, as modified from time to time, has been extended for a further period of three months from March 23, 2020 to June 22, 2020, subject to review," the RBI said in a release.
No bail for PMC Bank scam accused
Banwait was arrested in March by the Economic Offences Wing (EOW) of the Mumbai Police in connection with the alleged scam at the PMC Bank.
Independent Directors, the governance-guardians of the board, need to revitalise their role
At a time when financial markets and mutual funds are reeling under unforeseen economic pressure, independent directors will have to ensure that public stake in the company that they represent is protected while the company itself takes measures to ensure seamless continuity.
Agenda for small private banks: Bridge the trust deficit
Their faith shaken and fears stirred up by the Yes Bank curbs and PMC’s sudden failure, savers are withdrawing deposits in a ‘safety-first’ approach. So, smaller lenders are now under notice to rebuild their business models around sound risk assessment and better communication.
Maharashtra Co-op Bank pitches for branch merger of PMC Bank
Maharashtra State Co-operative (MSC) Bank has written to Union Finance Minister Nirmala Sitharaman seeking merger of branches of PMC Bank, in case of a takeover of the troubled lender.