The decision came a week after the RBI granted an "in principle" approval to Centrum Financial Services for setting up a small finance bank, thereby clearing the decks for the takeover of th crisis-hit PMC Bank by Centrum and BharatPe as equal partners.
The RBI on Friday gave an in-principle approval to Centrum Financial Services Ltd (Centrum), the established NBFC arm of the Centrum Group, to establish a SFB. Resilient Innovations Private Ltd (BharatPe), a fintech major, will be an equal partner, said a joint statement by both the companies.
Taking a dig on Shiv Sena MP Sanjay Raut, Senior BJP leader and former MP Kirit Somaiya said that he will have to give an explanation.
Varsha Raut was grilled and her statement recorded under the Prevention of Money Laundering Act (PMLA) by the central probe agency for the first time on January 4 at its office.
This is the first time that Varsha Raut has appeared before the ED after being summoned twice by the agency in the case.
The Enforcement Directorate (ED) on Tuesday issued a fresh summon to senior Shiv Sena leader Sanjay Raut's wife Varsha in connection with the over Rs 4,300 crore PMC bank scam.
Maharashtra: Shiv Sena MP Sanjay Raut's wife Varsha will not appear before Enforcement Directorate (ED) today in PMC Bank scam case. She has sought time from the agency till January 5.
Interacting with media persons during a press conference in Mumbai, Raut warned that he has 'files' of at least 120 BJP leaders and that he can expose them all.
The ruling Maha Vikas Aghadi allies joined forces against the Bharatiya Janata Party at the Centre a day after the Enforcement Directorate (ED) slapped summons on Varsha Raut, the wife of Shiv Sena Chief Spokesperson Sanjay Raut, in Mumbai on Monday.
The Enforcement Directorate (ED) has issued summons to Varsha Raut, wife of Shiv Sena MP Sanjay Raut in connection with the Punjab and Maharashtra Co-operative (PMC) Bank scam case.
The Enforcement Directorate has summoned senior Shiv Sena leader Sanjay Raut's wife Varsha in connection with the PMC Bank fraud case. The probe agency has called Varsha for questioning on December 29.
The Delhi High Court Tuesday asked the Centre and the RBI to respond to a plea seeking the release of up to Rs 5 lakh to depositors of the scam-hit Punjab and Maharashtra Cooperative (PMC) Bank Ltd to help them address health issues during the prevalent COVID-19 pandemic.
The Reserve Bank of India on Friday raised the withdrawal limit for the depositors of crisis-hit Punjab and Maharashtra Cooperative (PMC) Bank to Rs 1 lakh.
The Reserve Bank of India (RBI) on Saturday said it has extended regulatory restrictions on Punjab and Maharashtra Cooperative (PMC) Bank for three more months till June 22, 2020.
In view of the violence in Delhi and protests against the Citizenship Amendment Act, the Mumbai Police have denied permission to depositors of the troubled Punjab & Maharashtra Cooperative (PMC) Bank for staging a protest outside the RBI Bank's office here on Monday.
The scam-hit Punjab & Maharashtra Cooperative Bank Ltd had allegedly tried to influence its auditors by sending them on junkets to Goa and other places in order to keep them tight-lipped about the murky goings-on in the bank, official sources said in Mumbai.
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.
Maharashtra State Co-operative (MSC) Bank has written to Union Finance Minister Nirmala Sitharaman seeking merger of branches of PMC Bank, in case of a takeover of the troubled lender, a top official said on Tuesday. Any progress on such a scheme can only happen once the exact extent of the fraud and the liabilities arising are ascertained through a forensic audit, MSC Bank Chairman Vidyadhar Anaskar made it clear.
In a major relief to the common man, the Finance Minister on Saturday announced to raise the insurance cover on bank deposits to Rs 5 lakh from the current Rs 1 lakh.
Bank deposit insurance cover hiked: Finance Minister Nirmala Sitharaman on February 1, 2020, announced a hike in insurance cover for bank depositors and said depositors' money is absolutely safe. Deposit Insurance and Credit Guarantee Corporation has been permitted to increase deposit insurance coverage to Rs 5 lakh per depositor from Rs 1 lakh.
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