Tag: Pmc Bank

Mumbai: The absconding Chairman of the crisis-hit Punjab & Maharashtra Cooperative (PMC) Bank Ltd, S. Waryam Singh, has been nabbed by the Economic Offences Wing of Mumbai Police, an official said here on Saturday. Waryam Singh, 68, who was missing since the irregularities in the PMC Bank tumbled out two weeks ago, was traced to […]

New Delhi: Bringing relief to thousands of stressed account holders of Punjab and Maharashtra Co-Operative Bank or PMC Bank, the Reserve Bank of India today raised withdrawal limit to Rs. 40,000 from earlier withdrawal limit of Rs. 25,000. “The Reserve Bank of India, after reviewing the bank’s liquidity position and its ability to pay its depositors has decided to […]

Mumbai: Depositors of the scam-hit Punjab and Maharashtra Cooperative (PMC) Bank held a protest outside the Reserve Bank of India (RBI) headquarters in south Mumbai on Saturday. The depositors gathered outside the RBI around 11.45 am and held protests by showing placards and chanting slogans against PMC Bank and the RBI, a police official said. […]

Mumbai: In further relief to customers of scam-hit Punjab & Maharashtra Cooperative (PMC) Bank, the Reserve Bank on Tuesday enhanced the withdrawal limit to Rs 50,000 per account from Rs 40,000 earlier. In September, the RBI had put restrictions on PMC for six months and allowed depositors to withdraw up to Rs 1,000 of their […]

Mumbai: A court here has allowed the RBI- appointed administrator for PMC Bank to sell two aeroplanes and a yacht belonging to HDIL group promoters Rakesh Wadhawan and his son Sarang, the prime accused in the Rs 4,355-crore scam at the cooperative lender. The administrator had moved the metropolitan court here, seeking its direction to […]

Mumbai: 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. Patil, who earlier suggested that the PMC Bank be merged with the Maharashtra State Cooperative (MSC) Bank, said he was told that […]