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  • PMC Bank stakeholders move Bombay HC against ED officials, prosecutor for Wadhawan brothers’ bail in Yes Bank case Oct 07, 2020 12:18 PM IST

    PMC Bank stakeholders move Bombay HC against ED officials, prosecutor for Wadhawan brothers’ bail in Yes Bank case

    Representing the petitioners, advocate Subhash Jha alleged that ED officials “waited till the eleventh hour” and “deliberately delayed filing the charge sheet”

  • RBI says no resolution plan yet for PMC Bank, appoints new administrator Sep 22, 2020 06:16 PM IST

    RBI says no resolution plan yet for PMC Bank, appoints new administrator

    The RBI appointed former Union Bank of India executive, A K Dixit as the new administrator of PMC Bank in the place of the present Administrator J.B. Bhoria who is stepping down on September 22, 2020 due to health reasons.

  • PMC Bank crisis one year on: No resolution in sight yet Sep 16, 2020 05:30 PM IST

    PMC Bank crisis one year on: No resolution in sight yet

    During investigations, it was found that the bank had been allegedly running fraudulent transactions for several years to facilitate lending to HDIL through fictitious accounts and violating single-party lending rules.

  • Banking Central l Dear depositor, be very, very careful when you are offered extra returns Sep 14, 2020 12:21 PM IST

    Banking Central l Dear depositor, be very, very careful when you are offered extra returns

    Popular Finance, Fashion Gold, PMC, Yes AT1—the lure of higher returns, loose regulations trap gullible investors. Surprisingly, investors keep returning to such firms, ignoring repeated warnings.​

  • PMC Bank | Not possible to raise Rs 1 lakh withdrawal limit due to lack of liquidity: RBI to Delhi HC Aug 14, 2020 09:20 PM IST

    PMC Bank | Not possible to raise Rs 1 lakh withdrawal limit due to lack of liquidity: RBI to Delhi HC

    The affidavit was filed in response to an application seeking release of Rs five lakh to PMC bank depositors during COVID-19 to help them address health issues.

  • PMC Bank Case: Delhi High Court says consider liquidating some of the Wadhawans' assets Aug 12, 2020 09:02 AM IST

    PMC Bank Case: Delhi High Court says consider liquidating some of the Wadhawans' assets

    PMC Bank scam: HDIL promoters Rakesh Wadhawan and Sarang Wadhawan are the main accused in the alleged Rs 4,335 crore scam.

  • RBI working on a solution for PMC Bank, says Governor Shaktikanta Das Jul 11, 2020 01:04 PM IST

    RBI working on a solution for PMC Bank, says Governor Shaktikanta Das

    RBI has taken a number of measures to strengthen co-operative banking system, he added.

  • How RBI's supervision could avert a PMC Bank-like crisis Jun 30, 2020 09:02 AM IST

    How RBI's supervision could avert a PMC Bank-like crisis

    Better control over co-operative banks by RBI will work in depositors’ favour

  • Yes to Yes, no to PMC: What gives? Mar 23, 2020 11:17 AM IST

    Yes to Yes, no to PMC: What gives?

    Normalcy returns for Yes Bank's customers, while PMC Bank's depositors continue to languish

  • RBI extends restrictions on crisis-hit PMC bank by three months until June 22 Mar 21, 2020 06:27 PM IST

    RBI extends restrictions on crisis-hit PMC bank by three months until June 22

    An RBI circular dated September 23, 2019, curbed the bank's functions like lending and withdrawals by customers for six months. It has now been extended further by three months.

  • A tale of two kinds of depositors: Yes Bank and PMC (and many other cooperative banks) Mar 18, 2020 02:05 PM IST

    A tale of two kinds of depositors: Yes Bank and PMC (and many other cooperative banks)

    The fate of depositors in many crisis-ridden cooperative banks remains uncertain. Though a few of them have approached the courts and the RBI seeking resolution, it is a guess at this stage when they will get their money back.

  • Govt has no plans to bring other pvt sector lenders under scrutiny post Yes Bank crisis: Source Mar 09, 2020 10:20 PM IST

    Govt has no plans to bring other pvt sector lenders under scrutiny post Yes Bank crisis: Source

    S&P Global Ratings said if Yes Bank's resolution process is prolonged, there is a risk the broader banking environment may take a hit.

  • BMC attaches Nirav Modi's properties for tax recovery Mar 05, 2020 02:10 PM IST

    BMC attaches Nirav Modi's properties for tax recovery

    ED is in the process of auctioning four properties of the businessman, including three commercial and one residential, the civic body has also written a letter to the agency asking to pay property tax dues as early as possible.

  • PMC Bank sent auditor on "all expenses paid" vacation: Report Feb 12, 2020 12:41 PM IST

    PMC Bank sent auditor on "all expenses paid" vacation: Report

    The Reserve Bank of India (RBI) placed lending restrictions on PMC Bank after allegations of fraud.

  • SC stays Bombay HC order directing sale of HDIL assets to repay dues of PMC bank Feb 07, 2020 03:45 PM IST

    SC stays Bombay HC order directing sale of HDIL assets to repay dues of PMC bank

    A bench comprising Chief Justice S A Bobde and justices B R Gavai and Surya Kant took note of the appeal of the Reserve Bank of India against the Bombay High Court order.

  • RBI to get more powers to regulate urban co-operative banks; but what about rural ones with bigger pie of deposits? Feb 06, 2020 02:53 PM IST

    RBI to get more powers to regulate urban co-operative banks; but what about rural ones with bigger pie of deposits?

    It is important that the government provides enough power to the RBI to govern rural cooperative banks as well to ensure closer scrutiny and good governance

  • Cabinet clears amendment to banking laws to strengthen cooperative banks Feb 05, 2020 05:10 PM IST

    Cabinet clears amendment to banking laws to strengthen cooperative banks

    The proposed law seeks to enforce banking regulation guidelines of the RBI in cooperative banks, while administrative issues will still be guided by Registrar of Cooperative, Information and Broadcasting Minister Prakash Javadekar said while briefing media about the Cabinet decisions.

  • Some PMC Bank depositors detained for bid to hold protest Jan 19, 2020 08:01 PM IST

    Some PMC Bank depositors detained for bid to hold protest

    A group of around 25 depositors initially assembled some distance away from the house of the Wadhawans with banners in hands, where they started raising slogans, he added.

  • PMC Bank case: ED's burning of the midnight oil, delayed paperwork stalls exit of Wadhawans from jail Jan 16, 2020 10:36 PM IST

    PMC Bank case: ED's burning of the midnight oil, delayed paperwork stalls exit of Wadhawans from jail

    An appeal filed by the Enforcement Directorate challenged a Bombay High Court order that allowed the shifting of HDIL promoters Rakesh and Sarang Wadhawan, those accused in the Rs 6,800 crore PMC Bank scam case, from Mumbai's Arthur Road prison to their residence.

  • PMC Bank scam: Bombay HC sets up panel for sale of HDIL assets Jan 15, 2020 02:05 PM IST

    PMC Bank scam: Bombay HC sets up panel for sale of HDIL assets

    A division bench of Justices R V More and S P Tavade said the committee would be headed by retired high court judge S Radhakrishnan.

  • NCP chief Sharad Pawar meets Anurag Thakur to discuss revival of scam-hit PMC Bank Jan 13, 2020 12:55 PM IST

    NCP chief Sharad Pawar meets Anurag Thakur to discuss revival of scam-hit PMC Bank

    The PMC Bank has been put under restrictions by the RBI, after a multi-crore scam came to light following which the deposit withdrawal was initially capped at Rs 1,000, causing panic and distress among depositors.

  • Banking wrap: Lenders brace for employee strike, RBI says urban cooperative banks should focus on priority sector lending Jan 05, 2020 12:44 PM IST

    Banking wrap: Lenders brace for employee strike, RBI says urban cooperative banks should focus on priority sector lending

    SBI notifies clerk recruitment, RBI widens payment options for FASTag

  • PMC Bank case: EOW files 32,000-page chargesheet against 5 accused Dec 27, 2019 05:41 PM IST

    PMC Bank case: EOW files 32,000-page chargesheet against 5 accused

    The chargesheet has named former managing director of the bank Joy Thomas, former chairman Waryam Singh, former director of the bank Surjit Singh Arora, along with Housing Development and Infrastructure Limited (HDIL) promoters Rakesh Wadhawan and Sarang Wadhawan.

  • HDIL, its promoters have to repay loan to PMC Bank: Bombay HC Dec 19, 2019 04:30 PM IST

    HDIL, its promoters have to repay loan to PMC Bank: Bombay HC

    The court also said that the assets of HDIL and Wadhawans must be sold at the earliest in the interest of the PMC Bank and its depositors.

  • No objection if HDIL properties are sold off, Wadhawan tells Bombay High Court Dec 18, 2019 07:32 PM IST

    No objection if HDIL properties are sold off, Wadhawan tells Bombay High Court

    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.

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