PMC BANK CRISIS
PMC Bank scam: Ex-director's police remand extended
Surjit Singh Arora was last week arrested by Mumbai Police's Economic Offences Wing (EOW) in connection with the alleged Rs 4,355 crore scam. The EOW found out the alleged HDIL group fraud was sheltered by him.
RBI unions want govt to hike deposit insurance cover to Rs 10 lakh
The demand for increasing bank deposit insurance cover, which was last rev...
Ex-MD reveals how six officials pulled off Rs 6,500 crore fraud at PMC Bank
It took 6 officials, 21,049 dummy accounts and over 10 years of m...
What steps have been taken to help PMC Bank depositors, HC asks RBI
On September 23, the RBI imposed regulatory restrictions on the PMC Bank for six months over alleged financial irregularities. The withdrawal limit for account holders was initially Rs 1,000 per each customer for six months, which was later raised to Rs 10,000 and then to Rs 40,000.
'RBI is working on strengthening its supervisory skills'
The central bank is in the process of setting up a college of Supervisors, in addition to an internal supervisory research and analysis wing. The move is significant in the wake of criticism that the central bank received for not anticipating the crisis at the co-operative bank- PMC Bank. The RBI is working with the Govt to amend the Act governing co-operative banks.
RBI says no to Maha Bank proposal on setting off Rs 7,360 cr losses
Bank of Maharashtra shares closed 2 per cent down at Rs 10.80 on BSE. KPM MR.
The unsafe vaults: With the financial system hit by defaults, is it time to resurrect an old law?
The govt dropped a law aimed at dealing with the blow-up of financial services cos due to a misplaced campaign that depositors’ money would be used to bail out failed banks, but now is it time to bring it back to fire up the economic engine.
Maharashtra government will explore option of PMC bank merger: Devendra Fadnavis
The alleged scam to the tune of Rs 4,355 crore scam at the bank is attributed to loans given to realty firm HDIL, which were allegedly hidden from regulators' scrutiny, turning non-performing assets.
Who make up retail investors?
he RBI considers deposits over Rs 2 crore as bulk deposits and smaller amounts as retail.
Another PMC Bank depositor dies; had no funds for surgery
Murlidhar Dharra (83) died at his home in suburban Mulund on Friday. The family had a total of Rs 80 lakh in deposits with the bank, which was placed under restrictions since September 24.
View: It's time to reform India's cooperative banks
Banks of all kinds have been hit by frauds. But the UCBs are the odd man out. They are nobody’s child.
The collapse of PMC exposes the fault lines in the financial system
Co-operative banks cater to a larger swathe of population & yet largely escape active supervision of RBI.
The Co-op crisis: How 1,500-odd urban cooperative banks are being run and regulated
Crisis at PMC Bank puts a question mark on how the 1,500-odd urban cooperative banks are being run.
RBI raises withdrawal limit from Rs 1,000 to Rs 10,000 for PMC Bank customers
The central bank has hiked withdrawal limit to Rs 10,000 from Rs 1,000.
Will discuss PMC Bank issue with PM: Devendra Fadnavis tells depositors
Aggrieved depositors put forth their woes to the CM, who gave them a patient hearing, but said he could not give them any assurance as the model code of conduct was in force.
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