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PMC bank crisis News

PMC Bank Reserve Bank of India

22 Mar 2020

RBI extends regulatory restrictions on PMC Bank till June 22, 2020

It may be recalled that a six-month regulatory restriction was placed on PMC Bank by RBI on September 23, 2019 after the detection of several financial irregularities, hiding and misreporting of loans given to banrupt real estate developer HDIL.

05 Dec 2019

Maharashtra government suggests merger of crisis hit-PMC Bank with MSC Bank

Jayant Patil said the Udhav Thackeray government is ready to extend financial assistance, besides holding talks with the Reserve Bank of India (RBI) on the issue of merger.

05 Nov 2019

PMC Bank crisis: Withdrawal limit raised to Rs 50,000

Reserve Bank of India (RBI) on Tuesday enhanced withdrawal limit for depositors of Punjab and Maharashtra Cooperative (PMC) Bank Ltd to Rs 50,000. Earlier on October 14, the central bank had permitted the depositors of PMC Bank to withdraw up to Rs 40,000 of the total balance in their accounts.

PMC bank crisis

16 Oct 2019

Mumbai doctor holding account in PMC Bank ends life due to depression

The woman, identified as Dr Nivedita Bijlani (39), allegedly committed suicide on Monday evening

14 Oct 2019

RBI hikes withdrawal limit for depositors of PMC Bank to Rs 40,000

The RBI said in a press release that it has decided to hike the withdrawal limit from Rs 25,000 to Rs 40,000 after reviewing the bank’s liquidity position and its ability to pay its depositors.

Punjab and Maharashtra Co-operative Bank

14 Oct 2019

PMC Bank customers will not face any loss, reassures Nirmala Sitharaman

Finance Minister Nirmala Sitharaman said that the Reserve Bank of India (RBI) has repeatedly assured her that it will keep the interest of PMC Bank customers in mind and resolve the ongoing crisis as soon as possible.

PMC bank crisis

05 Oct 2019

PMC Bank crisis: ED attaches HDIL promoters' private jet, jewellery

The Enforcement Directorate claimed on Saturday that it has attached a private jet and jewellery worth Rs 60 crore of Housing Development and Infrastructure Limited (HDIL) Chairman Rakesh Wadhawan and his son Sarang Wadhawan.

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