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 misreporting to hide the fraud, Thomas revealed.
Govt should work with regulators to fix problems in Karvy, DHFL fraud cases: Congress
The Congress in Rajya Sabha on Tuesday said steps being...
'Working on amending co-operative bank act': RBI Guv Das on PMC Bank crisis
Reserve Bank Governor Shaktikanta Das on Thursday said it is clos...
Bank auditors have to be more vigilant
Under the new framework, statutory auditors, in verifying whether an NPA has been correctly identified by the bank, should not confine to the objective tests laid down but “display a greater degree of scepticism and independence” in scrutinising banks’ exposure to big borrowers.
GST authorities unearth racket involving Rs 140 cr tax fraud
New Delhi, Nov 26 () GST authorities have unearthed a tax racket and arrested one person for allegedly defrauding the government to the tune of about Rs 140 crore through fraudulent means.
Religare fraud: Court refuses bail to Shivinder Mohan Singh
Opposing his bail, EOW had alleged that documents collected during investigation reflect a pivotal role of Shivinder in conspiracy with co accused Malvinder Mohan Singh and other co- accused to “misappropriate funds of such large magnitude”.
It wasn't even a fraud, RBI decision harsh: Suspended PMC MD Joy Thomas
Thomas said no fraud took place at PMC bank and termed the whole issue as "technical in nature".
How Ex-PMC Bank chairman Waryam Singh used his "channels" to build the Wadhawan empire
Waryam Singh wielded enormous media power to enhance HDIL's business prospects.
Ecommerce consumer law may include social media shopping
85% of respondents to an online poll said social networks should be subject to e-commerce rules and policies.
PMC Bank created over 21,000 fake accounts to hide defaults by HDIL
These loans were not recorded in core banking system, instead they were mere entries in the "master indent" submitted to the RBI for inspection, the EOW said.
For no fault of theirs, PMC depositors may be in default
Depositors could be tagged as defaulters if they fail to make repayments on loans.
With debt mutual funds and banks defaulting, where should retirees invest?
Many investors, recently, were concerned about the news around DHFL FDs being kept on hold and the PMC Bank crisis.
Assure our money is safe, revive PMC Bank: Depositors urge RBI
Around 200 customers gathered outside the RBI's office in the Bandra-Kurla Complex on Tuesday and said they want their accounts with the PMC Bank be made operational.
A chunk of PMC’s loans under probe linked to HDIL promoters, states FIR
NEARLY HALF of Rs 4,635 cr loans likely to have been transferred to Rakesh and Sarang Wadhawans’ accounts, with rest borrowed by 7 entities linked to group, finds probe
Scam-hit HDIL appoints Knight Frank to value 40 land assets
While the principal loan on these assets is around Rs 2,200 crore, PMC Bank has been accused of fraudulently extending Rs 4,500 crore to HDIL on the back of security of these properties. Knight Frank will have to submit its report in 7-10 days.
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