PMC BANK ACCOUNT HOLDERS
Bombay High Court junks PMC Bank depositors' plea for lifting of restrictions
In their pleas, the petitioners alleged that the RBI's decision (to put restrictions on cash withdrawal) was irrational, arbitrary and violative of the fundamental rights of common public.
RBI expects forensic audit report on PMC Bank by month-end
The multi-state co-operative bank has been under the RBI restriction since Septemb...
78% depositors of PMC Bank can withdraw their entire account balance: FM Sitharaman
New Delhi, Dec 02 (ANI): Finance Minister Nirmala Sithara...
Police shares findings on PMC’s arrested auditors with ICAI
According to the police, Rakesh and Sarang Wadhawan of real estate firm HDIL, who are among the accused in the case, had allegedly tampered with the bank’s core banking solution to operate 44 password-protected accounts. Overdrafts disbursed by the bank to these accounts eventually made it to the accounts held by HDIL or its promoters, the police had alleged.
EOW probe: 23 PMC bankers, clients took out Rs 70 crore before curbs
As per Mumbai Police, 23 PMC bankers and clients took Rs 70 crore a week before RBI's clampdown.
78% depositors of PMC Bank can withdraw entire deposits: Government
The minister said steps are being taken to seize properties of promoters of the PMC Bank, auction such properties and repay depositors with the money obtained. Sitharaman said the Rs 50,000 withdrawal ceiling for depositors continues but for scenarios like marriage, education, livelihood and other "hardships", the withdrawal limit if Rs 1 lakh.
What is the maximum age limit to open a PPF account?
The lock-in period for PPF account holder remains at 15 years irrespective of the age at which you open the account. On maturity, the account can be extended by blocks of 5 years any number of times. Banks cannot deny the extension based on your age.
Bankers look to resolve account of troubled wind turbine maker Suzlon Energy to stop contagion effect
Sources privy to the development told IANS that lenders may seek a month's extension for complete resolution of Suzlon beyond the stipulated 180 days allowed under the latest Reserve Bank of India circular.
PMC Bank probe finds another ghost account operator
These ‘ghost accounts’ are suspected to have been operated by entities with the knowledge of arrested bank officials, sources said. These accounts allegedly belonged to the Abchal Group, loans to which have turned bad, saddling the bank with a Rs 300 crore liability. Not much information seems to be publicly available on the Abchal Group or its promoters.
Karvy Stock Broking scandal: How retail investors can safeguard against such frauds
The Karvy Stock Broking demat account fraud has shaken the trust of retail investors in their brokers. However, the question is to what extent an investor can trust his broker. What can an investor do to safeguard himself against such frauds?
Most Aadhaar holders believe data safe, subsidies assured
But 90% of people with Aadhaar believe, wrongly, that providing the number is mandatory for bank a/cs.
RBI to introduce new prepaid payment instrument for digital transactions up to Rs 10,000
RBI proposed to introduce a new type of prepaid payment instruments (PPIs) which can be used only for the purchase of goods and services up to a limit of Rs 10,000. You can load/re-load such PPI only from a bank account to pay your bills.
RBI tells court how it was 'cheated' by scam-hit PMC Bank
The affidavit states that PMC Bank had submitted fraudulently manipulated data to RBI for sample checks.
Karvy khushi, Karvy gham: Sebi serves stern warning to stockbrokers at large
Karvy is one of the largest brokerage firms and mutual fund registrar.
Only up to Rs 1 lakh, not all money, insured in banks: RBI-owned subsidiary
Finance Minister Nirmala Sitharaman last month said the government plans to bring in legislation on raising the insurance cover on bank deposits from the current Rs 1 lakh during the winter session of Parliament.
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