Bank fraud: ED attaches Rs 18-crore assets of Gujarat firm
The company, the agency said in a statement, "had availed fund-based and non-fund based financial assistance from a consortium of 13 banks led by Canara Bank and later on defaulted in repayment of loans to the tune of Rs 2,107 crore."
PMC Bank didn’t properly classify Wadhawan account: Economic Offences Wing
PMC Bank showed 59,675 accounts with outstanding dues of Rs 5,528....
DICGC faces a claim of Rs 14,000 crore from co-operative banks including PMC: RBI
The extent of devolvement on DICGC in the event of all the ...
Deposit Insurance Corporation sees Rs 14,100-cr claims amid PMC crisis
The Financial Stability Report said that all the claims may not materialise at the same time.
PMC Bank scam: Mumbai Police EOW files chargesheet against 5 accused
Mumbai police's Economic Offences Wing on Friday submitted a 32,000-page charge sheet against five persons in the multi-crore Punjab and Mah...
Fraud-hit Punjab National Bank alleges it has been cheated again
The lender has categorized Carnation’s account as a bad loan with effect from June 30, 2012, according to the complaint. The fraud-hit bank’s gross bad loan ratio rose to 16.8% as of September from 16.5% at June.
RBI proposes cap on single party exposure for UCBs, also hike priority sector lending threshold
RBI is working on a plan to cap exposure limits for UCBs for a single borrower/party to 10%.
U-19 World Cup hero Kalra suspended for 1 year from Ranji Trophy for "age-fraud"
Kalra, whose age as per BCCI records is 20 years 351 days, last week played for Delhi U-23 against Bengal and scored 80. He was in line to replace senior opener Shikhar Dhawan in the Ranji squad but as it now stands, he will not play any further.
PMC Bank depositors protest outside RBI office in Mumbai
Nearly 500 depositors of the troubled bank initially gathered outside an office of the RBI in the Bandra-Kurla Complex (BKC). One of the dep...
Bank fraud: ED attaches over Rs 124-cr assets of media group
Properties worth a total Rs 127.74 crore have been attached under the Prevention of Money Laundering Act (PMLA) and they include 11 commercial plots and floors of the group companies in Mumbai, Chennai, Noida and Kolkata, it said.
Panel to assess value of assets mortgaged by PMC borrowers
The bank is currently undergoing a forensic audit the report for which will be finalised by the end of this month. But simultaneously, other assets and mortgages are also being identified by investigation agencies and the banking regulator to get back the bank’s dues.
PMC Bank depositors' worries to be taken up with RBI: Minister
Punjab and Maharashtra Cooperative (PMC) Bank, over a long period of time, had given more than Rs 6,700 crore in loans to the Housing Development and Infrastructure Ltd, which is 73% of its total advances, and which turned sour with the bankruptcy of the company. Its total loans stand at around 9,000 crore and the deposits at over Rs 11,610 crore.
CBI books former Maruti boss Jagdish Khattar in bank fraud case
The agency has named Khattar and his company Carnation Auto in the fraud case.
Lenders put cash flows of about 500 stressed companies’ under lens
In the last three months, lenders have hired agencies in Gammon, Altico, JBF Industries, Suzlon and HCC to track end use of funds. Lead banks are hiring monitoring agencies in accounts having exposure of more than Rs 250 crore.
Cooperative banks' assets nearly halve to 10.6% in FY19 from FY 05: RBI
September saw one of the biggest cooperatives, the city-based PMC, going belly up after a massive scam.
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