PMC Bank

RBI issues draft scheme for PMC Bank's takeover

According to the scheme released, the depositors will get their full amount back over a period of 10 years.

published on : 23rd November 2021

PMC Bank fraud case: Bombay HC rejects Rakesh Wadhawan's medical bail plea 

She pointed out that he had been provided timely and specialised medical treatment at state-run and civic hospitals by the state prison authorities from time to time since his arrest.

published on : 14th October 2021

DICGC asks 21 stressed cooperative banks to prepare list of account holders

DICGC has also asked the banks to circulate consent form to account holders for accessing funds up to Rs 5 lakh as per the amended law within 90 days.

published on : 22nd September 2021

Depositors of stressed banks to get up to Rs 5 lakh back from November 30

There have been numerous recent cases of lenders, especially cooperative banks, being unable to fulfil their obligations towards the depositors despite monitoring by the union government and RBI.

published on : 30th August 2021

Given approval to set up small finance bank to take over PMC Bank: RBI to Delhi High Court

The PMC Bank has been put under restrictions, including limiting withdrawals, by the RBI, following the unearthing of a Rs 4,355-crore scam.

published on : 12th July 2021

RBI extends regulatory restrictions on PMC Bank till December to enable completion of its takeover

Paving the way for takeover of the crisis-ridden bank, the RBI had earlier in the month granted in-principle approval to Centrum Financial Services to set up a small finance bank (SFB).

published on : 25th June 2021

Centrum-BharatPe gets RBI nod to take over crisis-ridden Punjab and Maharashtra Co-operative Bank

Both Centrum Financial Services Limited and BharatPe, who will be equal partners of the proposed bank, will infuse combined capital of Rs.900 crore in the first year of operation. 

published on : 19th June 2021

Plea in HC alleges Wadhawans, accused in PMC Bank case, 'running office' from hospital

Petitioner Sayed claimed that the Wadhawans have been getting admitted to hospital from time to time since their arrest by the Enforcement Directorate in 2019.

published on : 11th June 2021