PUNJAB AND MAHARASHTRA COOPERATIVE
Maharashtra govt working on merging PMC and MSC Banks: Jayant Patil
Speaking on the issue of PMC bank depositors, Nationalist Congress Party ...
ET Explains: Inside RBI's plan to avert PMC Bank-like embarrassments
New policy measures were announced on Thursday to strengthen the regulat...
Bombay High Court junks PMC Bank depositors' plea for lifting of restrictions
In their pleas, the petitioners alleged that the RBI's decision...
RBI expects forensic audit report on PMC Bank by month-end
The multi-state co-operative bank has been under the RBI restriction since September 23, after it had found financial irregularities, including huge under-reporting of loans and non-performing assets to real estate developer HDIL to the tune of Rs 6,500 crore using hundreds of dummy accounts.
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.
Maharashtra government wants PMC Bank to merge with MSC Bank
"The government stands behind the PMC Bank depositors. I have spoken with the MSC Bank director and asked him to consider a merger of the two banks to provide relief to the depositors," Patil told mediapersons here this afternoon. He assured that the state's apex cooperative banking entity.
Government mulls raising insurance cover on bank deposits to above Rs 1 lakh: Nirmala Sitharaman
FM said the government will bring legislations on raising bank deposit cover from the current Rs 1 lakh.
Two directors of PMC Bank sent to police custody till December 11
The Economic Offences Wing (EOW) of the Mumbai Police had arrested three PMC Bank directors- Jagdish Mookhey, Mukti Bavisi and TruBane- on Tuesday. Of them, Mookhey and Bane were produced before chief metropolitan magistrate court, which remanded them in police custody till December 11.
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.
PMC case: 'Depositors can approach RBI admin for emergency withdrawals'
In an affidavit filed in the HC in response to petitions challenging the fund withdrawal restrictions, the RBI has mentioned the withdrawal ceiling at Rs 50,000 for scenarios like marriage, education, livelihood and "other hardships". On Sept 23, the RBI had imposed regulatory restrictions on the PMC Bank for six months over alleged financial irregularities.
View: Maharashtra drama, the only ‘ism’ that matters in Indian politics is opportunism
On Friday evening, Sharad Pawar claimed there was consensus over Uddhav Thackeray as chief minister of the Shiv Sena-NCP alliance. On Saturday morning, even before 8am, Devendra Fadnavis was sworn in as chief minister with NCP’s Ajit Pawar as deputy chief minister. The drama has a name: grab power at any cost. What conclusions emerge?
PMC bank scam: EOW of Mumbai Police opposes anticipatory bail pleas of 2 directors
Parmeet Sodhi and Surjit Singh Narang had filed anticipatory bail applications before additional sessions judge S T Soor here.
PMC Bank scam: EOW conducts search at Rajneet Singh's flat
The EOW suspects a nexus between some of the accused and the realty group HDIL, whose mammoth loan defaults are said to have caused a liquidity crisis at the bank, leading to appointment of an administrator by the RBI and restrictions on withdrawal of funds.
Aarey and PMC Bank crisis fail to impact BJP’s fortune
The results of the polls indicate that, despite all the protests from Bandra to Borivali , the Aarey factor didn’t play a role and the Sena-BJP combine won all seats from the western suburbs.
PMC scam: Court gives nod to sell jets, yacht of Wadhawans
A court has allowed the RBI- appointed administrator for PMC Bank to sell two airplanes and a yacht belonging to HDIL group promoters Rakesh Wadhawan and his son Sarang.
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