SEARCHED FOR:PMC FRAUD
One year later, PMC Bank depositors still struggling to get their money back
PMC Bank depositors have spent the last one year holding protests, meeting politicians, writing to various authorities in an effort to get their hard-earned money back.
India's fraud-hit PMC Bank asked other major banks for a merger, says administrator
Authorities started investigating Punjab and Maharashtra ...
As PMC Bank case drags on, depositors reduced to surviving on borrowing, charity
The RBI took control of PMC last September after it was accu...
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.
PMC bank fraud: JJ Hospital directed to give copy of medical records to Rakesh Wadhawan
A division bench of Justices R D Dhanuka and V G Bisht on Friday also directed a special court set under the Prevention of Money Laundering Act (PMLA) to hear and decide before August 19 an application filed before it by Wadhawan seeking to be shifted to a private hospital for medical treatment.
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.
Does RBI wants co-operative banks to wither away?
The RBI has often acted with haste and betrayed its understanding of co-operative banks.
EOW arrests HDIL's Sarang Wadhawan in a redevelopment fraud case
Wadhawan and his father, Rakesh are currently in judicial custody at Mumbai's Arthur Road jail for their alleged roles in the over Rs 6,000 crore alleged fraud caused to Punjab & Maharashtra Cooperative (PMC) bank.
RBI flagged irregularities at PMC Bank in 2007: Audit
The fraud could have been prevented had the board acted on the central bank's findings, said officials who are aware of the investigations into the bank fraud and the contents of the forensic report prepared by Grant Thornton India.
Forensic audit on PMC scam expected by month-end: Shaktikanta Das
"There is a forensic audit underway. We will get the report by the end of this month. Assessment of the realisable value of the assets of the bank is also on," Das told reporters after the announcement of the monetary policy.
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?
Urban cooperative banks report nearly 1,000 frauds worth over Rs 220 crore in past five fiscals: RBI
Responding to an RTI query, the central bank said a total of 181 fraud cases involving Rs 127.7 crore were noticed during 2018-19. A total of 99 and 27 such cases involving Rs 46.9 crore and Rs 9.3 crore were reported during 2017-18 and 2016-16 respectively, it said. As many as 187 cases of fraud involving Rs 17.3 crore were reported in 2015-16.
Grant Thornton to investigate Rs 4,355-crore PMC Bank fraud
PMC appointed the forensic auditor at the behest of the Economic Offences Wing (EOW) of the Mumbai police.
The biggest lessons for India from the PMC Bank fiasco
HDIL’s hijacking of PMC is just the latest in the subversion of co-op banks by the influential & crooked.
Bank frauds rise to record Rs 1.13 lakh cr in H1 FY20
97.3% of the frauds reported in the first half of FY20 by value occurred in previous financial years.