Tag: Pmc Scam

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: In a detailed affidavit filed before the Bombay High Court on Tuesday, the Reserve Bank of India (RBI) has virtually admitted that it was ‘cheated’ by the management of the scam-hit Punjab & Maharashtra Cooperative (PMC) Bank. The affidavit, filed by Rajlaxmi Sethi, Assistant General Manager, Department of Co-operative Bank Supervision, RBI, states that […]

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 […]