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Home > pmc bank
pmc bank
Given the extent of current nervousness in the financial system, it would be a bad idea to let this problem linger for even six months.
This tiny bank is a canary in India’s coalmine
01 Oct 2019 1:06 AM

Tiny and unlisted as it is, PMC is a popular option for small savers in Maharashtra, whose capital Mumbai is the nation’s financial hub.

The crisis raises question mark on role of various people whether it is regulator, auditors, directors and other officials, Mos Finance Anurag Thakur said on the sidelines of an event organised by Punjab National Bank in New Delhi. (Photo: File)
PMC Bank crisis 'eye opener', RBI looking into lapses: Thakur
30 Sep 2019 3:35 PM

PMC Bank came under stress due to alleged financial irregularities forcing the RBI to impose restriction on it.

The slum redevelopment focused Housing Development and Infrastructure Ltd HDIL is in the bankruptcy court now after being hit by a severe cash crunch following the failure of some of its key projects in Mumbai.
PMC's HDIL loan at Rs 6,500 cr, or 73 pc of total loan book: Ex-MD Thomas to RBI
29 Sep 2019 6:00 PM

The admission came in after a board member leaked the actual balancesheet details to the RBI, said a source.

Asserting that all its loans are fully secured, suspended PMC Bank managing director Joy Thomas stated that one large account - HDIL - was the sole reason for the present crisis that led to the regulatory action on Tuesday. (Photo: PTI)
PMC Bank has enough liquidity, depositors' money fully safe, claims suspended MD
26 Sep 2019 12:50 PM

RBI has capped cash withdrawal at Rs 1,000 per customer during this period and banned the bank from any fresh lending.

Thousands of depositors across various branches stood outside demanding answers on their life savings.
Depositors protest as curbs put on Indian co-operative bank
26 Sep 2019 10:01 AM

The central bank and barred from renewing, or granting any loans, or making investments.

The restrictions will be in force for six months, the RBI said.
RBI imposes restrictions on PMC Bank; withdrawal restricted to Rs 1,000 per account
24 Sep 2019 1:28 PM

No reasons were specified by the central bank for its restrictions on PMC Bank.

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