pmc bank
This is the third time the regulator has increased the withdrawal limit since its clamped down on the bank on September 23, when the RBI had capped it at Rs 1,000 per customer, which led to lot of distress and criticism.
RBI raises PMC Bank customers' withdrawal limit to Rs 40,000
14 Oct 2019 7:56 PM

With this, about 77 per cent of the depositors will be able to withdraw their entire account balance, said RBI.

They will discuss legislative steps needed to prevent such incidents from happening and empower the regulator better, FM Nirmala Sitharaman said. (Photo: ANI)
PMC Bank: Sitharaman faces protesters; promises legislation
10 Oct 2019 2:58 PM

The depositors had gathered outside the BJP's office here ahead of FM Nirmala Sitharaman's scheduled press interaction.

Similar trend was seen on the NSE, where the Housing Development and Infrastructure Ltd (HDIL) stock hit its 52-week low of Rs 3.20 down 4.48 per cent over its previous closing price.
Shares of HDIL hit lower circuit; fall 4.73 per cent
09 Oct 2019 12:42 PM

On the BSE, the stock of the company fell 4.73 per cent to its lower circuit limit of Rs 3.02, which was also its 52-week low.

"The current upper limit of Rs 1 lakh per depositor, we believe, has outlived its shelf life and there is a need to revisit it," SBI's Research said in a report Monday.
PMC Bank crisis: It's time to massively increase depositor insurance
08 Oct 2019 5:32 PM

The PMC crisis has brought to the fore the need to increase the deposit insurance coverage provided by the DICGC.

Two chiefs of HDIL that triggered off the crisis at PMC Bank by defaulting on loans worth nearly Rs. 6,500 crore were arrested in Mumbai on Thursday.
HDIL promoters, PMC Bank board members charged with money-laundering
04 Oct 2019 10:35 AM

Economic Offences Wing of the Mumbai Police arrested the tow directors at HDIL, Rakesh Wadhawan and Sarang Wadhawan on Thursday.

RBI had put PMC PMC strict restrictions including limiting withdrawals at Rs 10,000 and banning the bank from any lending activities for the next six months.
PMC Bank case: HDIL directors arrested, assets worth Rs 3,500 crore attached
03 Oct 2019 6:09 PM

More details awaited.

In a statement, the ICAI said it has sought requisite details of their findings as well as that of any 'member/firm alleged to be involved in the matter'.
PMC Bank case: ICAI to check role of auditors
02 Oct 2019 3:57 PM

ICAI on Wednesday said it has triggered its disciplinary mechanism and has written to the bank as well as regulatory agencies.

Every year during the course of RBI inspection we undergo into a lot of stress due to concealment of information from RBI.
Joy Thomas reveals how PMC hid bad loans
02 Oct 2019 1:42 AM

Punjab & Maharashtra Co-operative Bank Ltd used “dummy accounts” and other methods to hide its oversized loans.

DHFL, as on July 6, 2019, had total debt outstanding of Rs 83,873 crore of which Rs 74,055 crore is secured loans and Rs 9,818 crore unsecured.
No exposure to HDIL, PMC Bank, says DHFL
01 Oct 2019 5:38 PM

DHFL does not have any exposure to either of them, DHFL said in a regulatory filing.

are protected. The action was necessitated as in case of PMC Bank, the small depositors constitute around two-thirds of its depositor base, a source explained. (Photo: File)
Before RBI clampdown, PMC Bank saw huge cash withdrawals from big depositors
01 Oct 2019 9:39 AM

RBI has put on PMC strict restrictions including limiting withdrawals at Rs 10,000 and banning it from lending for next six months.


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