ET Explains: Inside RBI's plan to avert PMC Bank-like embarrassments
New policy measures were announced on Thursday to strengthen the regulatory framework at the UCBs.
Police shares findings on PMC’s arrested auditors with ICAI
According to the police, Rakesh and Sarang Wadhawan of real estate firm HDIL, who...
Maharashtra govt working on merging PMC and MSC Banks: Jayant Patil
Speaking on the issue of PMC bank depositors, Nationalist Congress Party ...
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.
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.
Loan fraud case: No wrongdoings found in functioning of Carnation Auto by bankers, says ex-Maruti chief Khattar
Khattar, who has been booked by the Central Bureau of Investigation (CBI) for an alleged bank loan fraud of Rs 110 crore, said no lapses in operations or financial management were found in the company by the investigating audit authorities and expressed hope that he will be vindicated once the probe is over.
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.
78% depositors of PMC Bank can withdraw their entire account balance: FM Sitharaman
New Delhi, Dec 02 (ANI): Finance Minister Nirmala Sitharaman in Lok Sabha on Punjab and Maharashtra Corporation bank scam stated that now ne...
Net banking & card frauds up 50%, Delhi is ATM con capital
The numbers of ATM frauds in public sector banks were, however, more revealing. While State Bank of India, with over 58,000 ATMs across India at the end of March 2019, accounted for over 25% of the over 2 lakh cash dispensers, one in five frauds were reported at its ATMs. The second-placed IDBI Bank saw close to 1,800 frauds being reported.
How RBI is using Big Data to track your money
The central bank is currently drafting a PCR Act with the Ministry of Corporate Affairs.
No objection if HDIL properties are sold off, Wadhawan tells HC
Sarang and his father, HDIL promoter Rakesh Wadhawan are currently in judicial custody after the duo were arrested in connection with an alleged scam at PMC Bank. Sarang Wadhawan filed an affidavit on Wednesday in response to a public interest litigation filed by lawyer Sarosh Damania.
Audit partners seek risk premium, more salary
They are seeking risk premium in the form of hikes and special bonuses, following actions Sebi and others.
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.
CG Power looking to hive off, sell its overseas assets
The manufacturer of power and distribution transformers is valuing its global assets at around $250 million. “CG Power has held talks with some Japanese and European companies for the same,” said a person with direct knowledge of the development.
Facebook sues Chinese company over ad fraud
Facebook blamed ILikeAd Media International Company and two individuals associated with the company — Chen Xiao Cong and Huang Tao — for the fraud. The defendants deceived people into installing malware available on the Internet. This malware then enabled the defendants to compromise people’s Facebook accounts and run deceptive ads promoting items.
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