SEARCHED FOR:PMC BANK CRISIS
As PMC Bank case drags on, depositors reduced to surviving on borrowing, charity
The RBI took control of PMC last September after it was accused of fraud and concealing non-performing loans. PMC's top officials and the owners of a realty company that received the bulk of the loans were arrested. The withdrawal cap has left many of PMC's over 9,00,000 depositors in deep difficulty.
Our assets losing value everyday, no steps taken to sell them despite consent, say Wadhawans
Counted among top builders in the city, Rakesh K...
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 ...
Plea to release Rs 5 lakh to PMC bank depositors; Delhi HC seeks Centre, RBI stand
A bench of Chief Justice D N Patel and Justice Prateek Jalan issued notice to the Finance Ministry, Reserve Bank of India and PMC Bank seeking their stand on the application moved by consumer rights activist Bejon Kumar Misra.
Indian Parliament passes bill to bring cooperative banks under RBI's supervision
The Banking Regulation (Amendment) Bill, 2020, which replaces an ordinance that was promulgated on June 26, was passed by a voice vote in Rajya Sabha. The amendment had got approval from Lok Sabha on September 16.
Banking Regulation (Amendment) Bill 2020 introduced in Lok Sabha
Finance Minister Nirmala Sitharaman rejected the charge, asserting that state cooperative laws are not being touched and that the proposed law seeks to bring these banks with same regulations that are applicable on other banks. It is applicable to those cooperative banks which deal with "bank, banker and banking," she said.
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.
Yes Bank depositors' money is absolutely safe: RBI governor Shaktikanta Das
RBI Governor Shaktikanta Das dispensed with the usual regulatory formality to assure the man on the street that his deposits at Yes Bank are safe.
Govt introduces Bill in Lok Sabha for cooperative banks to avoid PMC bank-like crisis
The Banking Regulation (Amendment) Bill, 2020, which comes in the backdrop of PMC Bank scam, seeks to strengthen cooperative banks by increasing professionalism, enabling access to capital, improving governance and ensuring sound banking through the RBI. Introducing the bill, Sitharaman said it is the "need of the hour" to avoid a PMC Bank-like crisis in the future.
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.
YES Bank crisis: Why government must fix the vulnerabilities in financial system
Yes Bank is another example of delayed action. It was clear that the bank was going to struggle to raise money.
Yes Bank crisis: 5 important things customers should know
If you are a Yes Bank customer and are alarmed over the situation, here are top five things you should know. (Text: ET Online)Yes Bank crisi...
PMC Bank crisis: Administrator to seek valuation of HDIL's aircraft, yacht
"The RBI-appointed administrator to PMC Bank intends to monetise a yacht and two aircraft through a transparent process. For the purpose, the administrator plans to appoint a valuer/consultant and invites proposals from interested parties," the administrator said in a public notice.
PMC crisis: This tiny bank in Maharashtra is a canary in India’s coalmine
How did PMC’s board, its auditors and the central bank remain clueless for so long?
'Working on amending co-operative bank act': RBI Guv Das on PMC Bank crisis
Reserve Bank Governor Shaktikanta Das on Thursday said it is closely monitoring the situation at scam-hit PMC Bank and a forensic audit is u...