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PMC Bank scam: HDIL promoters diverted Rs 160-cr loan to three Delhi-based hotels, reveals ED probe
Business

PMC Bank scam: HDIL promoters diverted Rs 160-cr loan to three Delhi-based hotels, reveals ED probe

The EOW has arrested five persons in the Rs 4,355-crore PMC Bank scam, including HDIL's Wadhawans and the bank's former chairman Waryam Singh and former managing director Joy Thomas.

PMC Bank scam: RBI increases withdrawal limit to Rs 50,000 per account; over 78% of depositors covered
Business

PMC Bank scam: RBI increases withdrawal limit to Rs 50,000 per account; over 78% of depositors covered

The Reserve Bank on Tuesday increased the withdrawal limits for depositors of the scam-hit Punjab and Maharashtra Cooperative Bank (PMC Bank) to Rs 50,000 from Rs 40,000 per account

PMC Bank scam: Bombay HC asks RBI what steps were taken to help depositors; next hearing on 19 November
Business

PMC Bank scam: Bombay HC asks RBI what steps were taken to help depositors; next hearing on 19 November

The Bombay High Court on Monday sought to know from the Reserve Bank of India what steps it has taken to protect the interests of depositors of the crisis-hit Punjab and Maharashtra Cooperative (PMC) Bank

PMC Bank scam: PIL in Delhi High Court seeks lifting of restriction on cash withdrawal
Business

PMC Bank scam: PIL in Delhi High Court seeks lifting of restriction on cash withdrawal

The Delhi High Court on Friday sought responses from the Centre, the AAP government in the national capital and the RBI on a PIL seeking the removal of restrictions on cash withdrawals from the scam-hit Punjab and Maharashtra Cooperative (PMC) Bank Ltd

RBI revamps departments for effective supervision, regulation of banking sector
Business

RBI revamps departments for effective supervision, regulation of banking sector

Under attack for not being able to prevent scams in the banking sector, the RBI on Friday reorganised its supervisory and regulatory functions into two departments to deal more effectively with potential systemic risk

PMC Bank scam: Major relief for depositors as RBI asks Mumbai Police to release attached assets for auction
Business

PMC Bank scam: Major relief for depositors as RBI asks Mumbai Police to release attached assets for auction

On Wednesday, depositors of the PMC Bank protested in Mumbai seeking an immediate payback of their dues from the troubled cooperative.

PMC Bank scam: Depositors continue protest seeking payback; police detains three agitators
Business

PMC Bank scam: Depositors continue protest seeking payback; police detains three agitators

Depositors of the PMC Bank on Wednesday protested in the financial capital, seeking an immediate payback of their dues from the troubled cooperative

Daily Bulletin: Maharashtra BJP to meet today on govt formation; Delhi air quality dips to 'severe' category; day's top stories
India

Daily Bulletin: Maharashtra BJP to meet today on govt formation; Delhi air quality dips to 'severe' category; day's top stories

Daily Bulletin: Maharashtra BJP's legislature party to meet; P Chidambaram's ED custody ends, to be presented before Rouse Avenue Court, PMC bank customers to hold protest march in Mumbai, Manchester United face Chelsea challenge; day's top stories

PMC Bank scam: Depositors continue with their protests by agitating outside RBI office, seek payback of stuck money
Business

PMC Bank scam: Depositors continue with their protests by agitating outside RBI office, seek payback of stuck money

Harried depositors of the troubled Punjab and Maharashtra Cooperative (PMC) Bank continued with their protests by agitating outside an office of the Reserve Bank here on Tuesday, to demand a payback of their stuck money

RBI assures PMC Bank depositors their money is safe; account holders give ultimatum till 30 October: Report
Business

RBI assures PMC Bank depositors their money is safe; account holders give ultimatum till 30 October: Report

On Tuesday, many scam-hit PMC Bank account holders staged a protest at Azad Maidan in Mumbai raising slogans and holding placards which read 'Black Diwali, Save Us' and 'Innocents are losing life

Nobel laureate Abhijit Banerjee expresses worry about banking crisis; bats for aggressive changes
Business

Nobel laureate Abhijit Banerjee expresses worry about banking crisis; bats for aggressive changes

Nobel laureate Abhijit Banerjee on Tuesday flagged concerns about the banking crisis in India and called for aggressive changes to deal with the situation

PMC Bank scam: Yet another stressed depositor of crisis-hit bank dies in Maharashtra; toll rises to five
Business

PMC Bank scam: Yet another stressed depositor of crisis-hit bank dies in Maharashtra; toll rises to five

Sadarangani was reportedly worried about her family’s future as her daughter and son-in-law have deposits in the PMC Bank worth Rs 2.5 crore.

PMC Bank scam: Court extends HDIL promoters Rakesh Wadhawan, son Sarang's ED custody till 24 October
Business

PMC Bank scam: Court extends HDIL promoters Rakesh Wadhawan, son Sarang's ED custody till 24 October

A Mumbai court on Tuesday extended the ED custody of HDIL promoters Rakesh Wadhawan and his son Sarang Wadhawan, arrested in connection with Rs 4,355 crore Punjab and Maharashtra Cooperative (PMC) Bank scam, till 24 October

Infosys accounting probe: Case may be overblown, but it's an opportunity to fix corporate governance, whistleblower norms
Business

Infosys accounting probe: Case may be overblown, but it's an opportunity to fix corporate governance, whistleblower norms

Infosys is considered as a bellwether not just for India's emergence as a strong economy in a globalised era in a pioneering export sector, but also for corporate governance and disclosures wore on the sleeves by its iconic founder, NR Narayana Murthy.

HDFC Bank allays concerns of depositors after ‘stamped’ passbook image goes viral on social media
Business

HDFC Bank allays concerns of depositors after ‘stamped’ passbook image goes viral on social media

After the image started circulating on social media, HDFC Bank spokesperson has clarified that this is part of the mandatory RBI guidelines.

Scam-hit HDIL appoints property consultant Knight Frank to value 40 land assets valued at Rs 8,000 cr
Business

Scam-hit HDIL appoints property consultant Knight Frank to value 40 land assets valued at Rs 8,000 cr

HDIL sources said "the current value of the 18 valued properties will cross over 3,500 crore, while other 22 properties would be another Rs 4,000 crore."

Setback for PMC Bank depositors: Supreme Court refuses to entertain PIL seeking relief, asks petitioners to approach high court
Business

Setback for PMC Bank depositors: Supreme Court refuses to entertain PIL seeking relief, asks petitioners to approach high court

The PIL was filed by Bijon Mishra, who has sought the full protection of over 15 lakh affected PMC bank customers and 100 percent insurance cover over their savings with the institution

PMC Bank scam: Five prime accused involved in fraud behind bars now, about Rs 4,000 cr assets seized; all you need to know
Business

PMC Bank scam: Five prime accused involved in fraud behind bars now, about Rs 4,000 cr assets seized; all you need to know

PMC Bank is under regulatory restriction since 23 September after the RBI found that financial irregularities at the bank.

PMC Bank crisis: Over Rs 10 cr found missing from lender's record, internal investigation team reveals, says report
Business

PMC Bank crisis: Over Rs 10 cr found missing from lender's record, internal investigation team reveals, says report

Multiple cheques were issued by HDIL and its related entites which were never deposited with the bank and yet cash was handed over to them, according to a report

Daily Bulletin: SC to hear PIL seeking interim protection for customers in PMC Bank scam today; ED summons Praful Patel for probe in money laundering case; day's top stories
India

Daily Bulletin: SC to hear PIL seeking interim protection for customers in PMC Bank scam today; ED summons Praful Patel for probe in money laundering case; day's top stories

Here are today's top stories: PMC bank scam: SC to hear PIL seeking interim protection for customers today; Pakistan to remain on FATF 'Grey List' till February 2020; formal announcement to be made today; and more