PMC bank

One year later, PMC Bank depositors still struggling to get their hard-earned money back

Exactly one year ago, on September 23, 2019, the Reserve Bank of India had superseded the board of the multi-state urban cooperative bank and placed it under various regulatory restrictions.

published on : 23rd September 2020

Fraud-hit PMC Bank gets new administrator

PMC bank and RBI are continuing to engage with the stakeholders to explore the possibility of finding a viable and workable solution for the resolution of the bank,” it said.

published on : 23rd September 2020

Withdrawal limit of Rs 1 lakh on PMC bank can't be increased due to lack of liquidity: RBI to HC

RBI has told the high court that against a total deposit liability of approximately Rs 10,000 crore as on March 26, 2020, liquid assets available with the PMC bank were to the tune of Rs 2,955.

published on : 15th August 2020

PMC bank: Wadhawan brothers bail rejected, offence grave says court

The Wadhawan duo are accused in the multi-crore rupee Punjab & Maharashtra Cooperative (PMC) Bank scam case.

published on : 10th July 2020

RBI doubles withdrawal limit to Rs 1 lakh for PMC Bank depositors

The withdrawal limit was last enhanced to Rs 50,000 per depositor on November 5, 2019, and the restrictions extended up to June 22, 2020.

published on : 19th June 2020

Cabinet clears amendment to banking laws to strengthen cooperative banks

The cabinet approval is in line with the Budget announcement made by Finance Minister Nirmala Sitharaman on Saturday.

published on : 5th February 2020

Restrictions on cash withdrawal from PMC Bank based on ability to pay depositors: RBI to Delhi HC

The submissions were made in response to a PIL seeking removal of restrictions on cash withdrawals from the PMC Bank.

published on : 21st January 2020

PMC Bank scam: Inspection report yet to be finalised says RBI

The RBI declined to give copies of two complaints received by it regarding 'irregularities' in the bank and the action taken on them, citing exemption clause in the transparency law.

published on : 29th December 2019

PMC Bank scam: 32000-page charge sheet filed against five accused

The accused have been charged under various sections of Indian Penal Code including cheating, fraud, destruction of evidence and falsification of documents.

published on : 27th December 2019

PMC Bank scam: Enforcement Directorate files chargesheet against HDIL promoters

The PMC Bank, which has around 16 lakh depositors, was placed under an RBI administrator on September 23 for six months due to massive under-reporting of dud loans.

published on : 16th December 2019

PMC Bank depositors held after protest, Maharashtra CM Uddhav Thackeray assures all help

Thackeray met a delegation of depositors of the troubled lender and assured that his government will take necessary steps to ensure justice to the bank's customers.

published on : 15th December 2019

Mumbai Police arrests three directors of PMC Bank

Jagdish Mookhey, Mukti Bavisi and Trupti Bane were arrested following extensive interrogation in connection with credit facilities provided by the bank to HDIL.

published on : 3rd December 2019

78 per cent depositors of PMC Bank can withdraw entire deposits: Nirmala Sitharaman

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.

published on : 2nd December 2019