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  Stressed PMC Bank customers not to get Rs 5 lakh deposit cover in first lot | Details inside

  Business | October 31, 2021 14:38 IST

  Deposit Insurance and Credit Guarantee Corporation (DICGC) in the first lot will pay customers of 20 stressed banks except PMC Bank. For the first lot, the mandatory 90 days period concludes on November 30.

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  Small finance bank to take over PMC Bank: RBI tells Delhi HC

  Business | July 12, 2021 14:35 IST

  Earlier, RBI stated that depositors are already allowed to withdraw up to ₹5 lakh on hardship grounds for treatment of terminal illnesses, including treatment of Covid-19

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  PMC bank fraud: Sanjay Raut's wife summoned for questioning by ED on Dec 29

  India | December 27, 2020 21:21 IST

  ​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.

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  RBI raises PMC Bank withdrawal limit to Rs 1 lakh; extends regulatory restrictions by 6 months

  Business | June 19, 2020 19:51 IST

  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.

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  PMC Effect: Deposit insurance raised to Rs 5 lakh

  Business | February 01, 2020 13:31 IST

  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.

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  Budget 2020: BIG relief for bank depositors! Insurance cover hiked from ₹ 1 lakh to ₹ 5 lakh

  Business | February 01, 2020 13:14 IST

  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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  PMC Bank scam: Depositors detained for holding protest at HDIL promoter's residence

  India | January 19, 2020 19:53 IST

  Around a dozen depositors of the scam-hit Punjab and Maharashtra Cooperative (PMC) Bank were detained on Sunday for allegedly trying to stage a protest outside the Khar residence of HDIL promoters Rakesh Wadhawan and his son Sarang, who are accused in the bank fraud case, police said. 

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  PMC Bank scam: SC stays HC order allowing shifting of HDIL promoters from jail to their residence

  Business | January 16, 2020 18:16 IST

  The Supreme Court 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 Bank (PMC) scam, from Mumbai's Arthur Road Jail to their residence. 

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  PMC Bank scam: SC stays release of HDIL directors Rakesh and Sarang Wadhawan

  India | January 16, 2020 12:28 IST

  Supreme Court on Thursday stayed the release of HDIL directors, Rakesh Wadhawan and Sarang Wadhawan, from Mumbai jail. Earlier today, the Court had asked Solicitor General (SG) Tushar Mehta to come up with the diary number at 2 pm today, for listing the matter pertaining to his mentioning in the case.

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  PMC Bank scam: HC sets up panel for sale of HDIL assets

  India | January 15, 2020 14:10 IST

    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.

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  PMC Bank depositors' worries to be taken up with RBI: Minister

  Business | December 12, 2019 15:53 IST

  The Maharashtra government will take up concerns of the troubled Punjab and Maharashtra Cooperative (PMC) Bank's depositors with the RBI in a couple of days, state minister Jayant Patil said on Thursday. 

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  PMC Bank crisis: HC junks PMC Bank depositors' plea for lifting of restrictions

  India | December 05, 2019 19:40 IST

  In their pleas, the petitioners alleged that the RBI's decision (to put restrictions on cash withdrawal) was irrational, arbitrary and violative of the fundamental rights of common public.

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  Seeking their money, PMC Bank depositors protest again

  India | November 27, 2019 9:17 IST

  The protest, announced last weekend after a round of sit-ins outside the RBI headquarters, was held at the Azad Maidan, the designated agitating place located not far off from the central bank headquarters.  

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  PMC Bank only disclosed Rs 439.6 crore as loans to HDIL

  Business | November 25, 2019 21:31 IST

  During the current inspection, PMC Bank has admitted to having a total exposure of Rs 6,226.01 crore (inclusive of interest accrued in the related accounts) as on March 31, 2019 to the HDIL group.

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  PMC Bank scam: Economic Offences Wing arrests two auditors

  India | November 11, 2019 23:50 IST

  The arrested duo, Jayesh Sanghani and Ketan Lakdawala, had served as statutory auditors when the scam was committed and suspected to have played a key role in covering up the irregularities involving some top officials of the bank, he said.  

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  PMC Bank crisis: Depositors of scam-hit bank meet Mumbai police chief

  India | November 11, 2019 23:33 IST

  "In the meeting, the commissioner assured us that the police will take every possible action to bring the culprits to book and recover the money of depositors," Singh said.

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  No pre-arrest bail for two directors of PMC Bank

  India | November 11, 2019 23:25 IST

  Additional Sessions Judge S T Soor turned down the applications of Parmeet Sodhi and Surjit Singh Narang after noting that their custodial interrogation was required.

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  Closely monitoring situation at PMC Bank; forensic audit underway: RBI Governor

  Business | November 07, 2019 15:39 IST

  "PMC Bank situation is being closely monitored. Forensic audit is underway in PMC Bank case," Das told reporters after a meeting of the Financial Stability and Development Council (FSDC) in New Delhi.

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  PIL in HC seeks lifting of restriction on cash withdrawal from PMC ban

  India | November 01, 2019 12:50 IST

  A bench of Chief Justice D N Patel and Justice C Hari Shankar issued notice to the Finance Ministry, Delhi government, RBI and the PMC bank directing them to indicate their stand on the plea which has sought 100 per cent insurance cover for customers' money deposited in the bank

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  PMC Bank scam: Ex-director's police remand extended

  India | October 22, 2019 13:31 IST

  Arora was last week arrested by Mumbai Police's Economic Offences Wing (EOW) in connection with the alleged Rs 4,355 crore scam. He was produced before metropolitan magistrate S G Shaikh, after his police remand ended on Tuesday. The court extended his police custody till Thursday.