PMC Bank depositors protest outside RBI office in Mumbai
Nearly 500 depositors of the troubled bank initially gathered outside an office of t...
PMC Bank depositors' worries to be taken up with RBI: Minister
Punjab and Maharashtra Cooperative (PMC) Bank, over a long period of time, had...
Bombay High Court junks PMC Bank depositors' plea for lifting of restrictions
In their pleas, the petitioners alleged that the RBI's decision...
Maharashtra govt working on merging PMC and MSC Banks: Jayant Patil
Speaking on the issue of PMC bank depositors, Nationalist Congress Party (NCP) leader Jayant Patil said, “Depositors of Punjab and Maharasht...
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.
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...
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.
Maharashtra government wants PMC Bank to merge with MSC Bank
"The government stands behind the PMC Bank depositors. I have spoken with the MSC Bank director and asked him to consider a merger of the two banks to provide relief to the depositors," Patil told mediapersons here this afternoon. He assured that the state's apex cooperative banking entity.
RBI expects forensic audit report on PMC Bank by month-end
The multi-state co-operative bank has been under the RBI restriction since September 23, after it had found financial irregularities, including huge under-reporting of loans and non-performing assets to real estate developer HDIL to the tune of Rs 6,500 crore using hundreds of dummy accounts.
Maha govt suggests merger of troubled PMC Bank with MSC Bank
The PMC Bank has been put under restrictions by the RBI, after an alleged Rs 4,355 crore scam came to light following which the deposit withdrawal was initially capped at Rs 1,000, causing panic and distress among depositors. At least eight depositors, who had high quantum of money stuck with the bank, died in the last couple of months, including one who committed suicide.
PMC case: 'Depositors can approach RBI admin for emergency withdrawals'
In an affidavit filed in the HC in response to petitions challenging the fund withdrawal restrictions, the RBI has mentioned the withdrawal ceiling at Rs 50,000 for scenarios like marriage, education, livelihood and "other hardships". On Sept 23, the RBI had imposed regulatory restrictions on the PMC Bank for six months over alleged financial irregularities.
PMC case: RBI files affidavit in Bombay HC, states restrictions to safeguard depositors
The Reserve Bank of India (RBI) on Tuesday filed a detailed affidavit in the Bombay High Court on a batch of petitions filed by the deposito...
PMC depositors hold protest outside RBI office; nine detained
The protesters gathered at the spot at 11 am and started raising slogans demanding they be allowed to withdraw money from their accounts above the limit prescribed by the apex bank. At least nine protesters were taken into custody, the police official said.
PMC Bank depositor dies, family says no link with crisis
68-year-old Keshumalbhai Hinduja, who had an account with the scam-hit PMC Bank died in suburban Mulund, his relatives said on Thursday. They, however, did not the blame the crisis at the bank for his death. He is the sixth known PMC Bank depositor who died after restrictions were imposed on withdrawal of funds from the bank.
In big relief to depositors, RBI enhances PMC Bank withdrawal limit to Rs 50,000
Following a review of the crisis-ridden Punjab and Maharashtra Cooperative Bank's (PMC's) liquidity position, the Reserve Bank of India (RBI...
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