Pmc Bank

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Pmc Bank - Total results - 109
'Harassing those against BJP seems to be ED's national duty,' says Sanjay Raut after agency summons his wife
India

'Harassing those against BJP seems to be ED's national duty,' says Sanjay Raut after agency summons his wife

The ED wants to question Varsha Raut with regard to a loan of about Rs 55 lakh she had taken from the wife of a person who is accused in the PMC Bank alleged fraud case. Raut said the details of the loan were mentioned in his Rajya Sabha affidavits

RBI extends restrictions on PMC Bank till 31 March, says it received four investment proposals
India

RBI extends restrictions on PMC Bank till 31 March, says it received four investment proposals

In September 2019, the RBI had imposed restrictions on the fraud-hit multi-state urban cooperative bank, including on withdrawals by customers, following a scam

Yes Bank case: CBI books HDIL promoters Wadhawans, others for Rs 200-cr loan fraud
Business

Yes Bank case: CBI books HDIL promoters Wadhawans, others for Rs 200-cr loan fraud

It is alleged that loans taken for Mack Star were transferred to settle HDIL liabilities to Yes Bank without intimation to its majority stakeholder and investor ODIL in a conspiracy orchestrated by the HDIL promoters, directors and auditors

Ex-CEO of Karnataka's Guru Raghavendra Sahakara Bank found dead in his car in Bengaluru
India

Ex-CEO of Karnataka's Guru Raghavendra Sahakara Bank found dead in his car in Bengaluru

The ACB had recently raided the office and residence of former CEO Vasudeva Maiya and a few other executives of the bank in connection with a fraud case

Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions
Business

Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions

Recent days have seen RBI governor Shaktikanta Das pulling up public sector banks for poor credit growth even as Kapoor's Yes Bank shenanigans were simmering in the backdrop.

No F&O contracts for Yes Bank from 29 May; NSE not to accept fresh bank guarantees by lender
Business

No F&O contracts for Yes Bank from 29 May; NSE not to accept fresh bank guarantees by lender

NSE said that due to the recent development in Yes Bank, it has been decided that no fresh or renewal of bank guarantees and fixed deposit receipts issued by Yes Bank limited shall be accepted.

Moratorium, withdrawal cap on Yes Bank credit negative; move to affect timely repayment of depositors, creditors: Moody's
Business

Moratorium, withdrawal cap on Yes Bank credit negative; move to affect timely repayment of depositors, creditors: Moody's

The central bank on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account and superseded the board of the private sector lender with immediate effect.

Yes Bank placed under 'moratorium'; govt caps withdrawals at Rs 50,000, RBI says lender lacked 'credible revival plan'
Business

Yes Bank placed under 'moratorium'; govt caps withdrawals at Rs 50,000, RBI says lender lacked 'credible revival plan'

Troubled private sector lender Yes Bank was placed under a 'moratorium' on late Thursday, with the RBI capping depositor withdrawals at Rs 50,000.

PMC Bank depositors stage protest at RBI's Delhi office, threaten to go on hunger strike after 2 March if money not returned
Business

PMC Bank depositors stage protest at RBI's Delhi office, threaten to go on hunger strike after 2 March if money not returned

PMC Bank has been put under restrictions by the RBI after an alleged fraud came to light following which the deposit withdrawal was initially capped at Rs 1,000, causing panic and distress among depositors

PMC Bank case: SC stays Bombay High Court order directing sale of HDIL assets to repay dues of co-operative lender
Business

PMC Bank case: SC stays Bombay High Court order directing sale of HDIL assets to repay dues of co-operative lender

The Supreme Court on Friday stayed the Bombay High Court order directing sale of bankrupt Housing Development and Infrastructure Ltd (HDIL) to ensure repayment of dues of crisis-hit Punjab and Maharashtra Cooperative Bank

PMC Bank fallout: Cabinet clears amendment to banking laws to strengthen cooperative banks; RBI nod to be made mandatory for appointments
Business

PMC Bank fallout: Cabinet clears amendment to banking laws to strengthen cooperative banks; RBI nod to be made mandatory for appointments

The decision assumes significance in the wake of a scam in the PMC Bank affecting lakhs of customers who are facing difficulties in withdrawing their money due to restrictions imposed by the RBI.

Insurance cover on bank deposits raised to Rs 5 lakh effective today; move to help boost confidence of people in banking system
Business

Insurance cover on bank deposits raised to Rs 5 lakh effective today; move to help boost confidence of people in banking system

This, the RBI said, has been done with a view to providing a greater measure of protection to depositors.

PMC Bank scam: Restrictions on cash withdrawal from lender based on ability to pay depositors, RBI tells Delhi HC
Business

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

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

Budget 2020: Banking sector is feeling the heat of economic slowdown; can Nirmala Sitharaman clear the mess?
Business

Budget 2020: Banking sector is feeling the heat of economic slowdown; can Nirmala Sitharaman clear the mess?

In a normal scenario, these suggestions make sense. But, the state of Indian banking sector is far from normal.

Nirmala Sitharaman says states refusing to implement CAA is 'unconstitutional', all have responsibility to ensure law is enforced
India

Nirmala Sitharaman says states refusing to implement CAA is 'unconstitutional', all have responsibility to ensure law is enforced

Defending the Citizenship (Amendment) Act, Nirmala Sitharaman maintained there was no necessity to mix up the National Register of Citizens (NRC) and National Population Register with the CAA and appealed to those opposing the act not to make allegations that would lead to unrest among the public.

PMC Bank scam: SC stays Bombay High Court order allowing shifting of HDIL promoters from jail to residence
Business

PMC Bank scam: SC stays Bombay High Court order allowing shifting of HDIL promoters from jail to residence

The Supreme Court on Thursday partially stayed the Bombay High Court order allowing shifting of HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, accused in the multi-crore Punjab & Maharashtra Cooperative (PMC) Bank scam case, from Mumbai's Arthur Road Jail to their residence

PMC Bank scam: Bombay High Court sets up panel for sale of HDIL assets; next date of hearing on 30 April
Business

PMC Bank scam: Bombay High Court sets up panel for sale of HDIL assets; next date of hearing on 30 April

The Bombay High Court set up a three-member committee on Wednesday for valuation and sale of encumbered assets of Housing Development and Infrastructure Ltd (HDIL) to expeditiously recover dues payable by the firm to crisis-hit Punjab & Maharashtra Cooperative (PMC) Bank

Union Budget 2020: Finance Minister Nirmala Sitharaman has her task cut out for crisis-ridden banking sector
Business

Union Budget 2020: Finance Minister Nirmala Sitharaman has her task cut out for crisis-ridden banking sector

In a normal scenario, these suggestions make sense. But, the state of Indian banking sector is far from normal.

PMC Bank impact: RBI revises norms for urban cooperative banks; to place them under supervision if net NPAs exceed 6%
Business

PMC Bank impact: RBI revises norms for urban cooperative banks; to place them under supervision if net NPAs exceed 6%

Following the exposure of scam in the PMC Bank, which has over 9.15 lakh depositors, the RBI imposed restrictions on withdrawals.

PMC Bank fallout: RBI proposes to tighten lending norms for UCBs, says exposure to single borrowers leads to credit concentration risk
Business

PMC Bank fallout: RBI proposes to tighten lending norms for UCBs, says exposure to single borrowers leads to credit concentration risk

Earlier this month, the RBI Central Board had reviewed functioning of the urban cooperative banks and the enforcement framework.