 "What is PMC Bank Crisis")
PMC Bank Crisis
What is PMC Bank Crisis
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Latest Updates on PMC Bank Crisis
RBI extends curbs on PMC Bank by 3 months as it works on revival plan
RBI has been talking to other authorities on sale of securities and loan recovery; Unlike in commercial banks, it has no powers to evolve an enforceable reconstruction plan for a co-op bank
 "RBI extends curbs on PMC Bank by 3 months as it works on revival plan")
RBI extends regulatory restrictions on PMC Bank by 3 months till June
The RBI had put a six-month regulatory restriction on the bank on September 23, 2019
 "RBI extends regulatory restrictions on PMC Bank by 3 months till June")
Double trouble: PMC Bank asked to deduct TDS on notional interest paid
CBDT asks lender to deduct tax at source on notional interest paid
 "Double trouble: PMC Bank asked to deduct TDS on notional interest paid")
SC stays Bombay HC order to sell HDIL assets and repay PMC bank dues
A bench comprising Chief Justice S A Bobe and justices B R Gavai and Surya Kant took note of the appeal of the Reserve Bank of India against the Bombay High Court order
 "SC stays Bombay HC order to sell HDIL assets and repay PMC bank dues")
Shivalik Mercantile receives approval to become Small Finance Bank
The RBI had come with a scheme on voluntary transition of UCBs into Small Finance Bank (SFB) on September 27, 2018. But there was no taker
 "Shivalik Mercantile receives approval to become Small Finance Bank")
RBI inspection report of scam-hit PMC Bank yet to be finalised: RTI
The RBI declined to give copies of two complaints received by it regarding 'irregularities' in the bank and the action taken on them
PMC Bank crisis: Administrator to seek valuation of HDIL's aircraft, yacht
These assets belong to HDIL group firms owned by Rakesh Wadhawan and his son Sarang, the prime accused in the Rs 6,500-crore scam at the cooperative lender
 "PMC Bank crisis: Administrator to seek valuation of HDIL's aircraft, yacht")
PMC Bank money-laundering case: ED files chargesheet against HDIL promoters
The Wadhawans have been booked under various provisions of the PMLA
 "PMC Bank money-laundering case: ED files chargesheet against HDIL promoters")
PMC Bank depositors detained for protesting outside CM Thackeray's house
The RBI had asked the bank not to grant or renew any loans and advances, make any investment or incur any liability, including borrower of funds and acceptance of fresh deposits.
PMC Bank case: Depositors protest as HC refuses to interfere with RBI order
The protestors raised slogans against the court, the RBI and PMC Bank
Bombay HC asks RBI what it has done to protect PMC bank depositors
It directed the RBI to file its affidavit and posted the matter for further hearing on November 19
 "Bombay HC asks RBI what it has done to protect PMC bank depositors")
A health check on India's shadow banks shows the crisis is far from over
Troubles began last year when major shadow bank IL&FS Group unexpectedly defaulted, prompting broader shock that made it hard for many companies to refinance debt
 "A health check on India's shadow banks shows the crisis is far from over")
Risk-based premium for deposit insurance: Time right, but tough to follow
If RBP kicks in, there will be a shakeout among urban-cooperative banks
 "Risk-based premium for deposit insurance: Time right, but tough to follow")
PMC Bank depositors in dire straits; govt does not care: Sitaram Yechury
Accusing the government of lying about the economic situation, Yechury alleged that public money was being used for PR
 "PMC Bank depositors in dire straits; govt does not care: Sitaram Yechury")
PMC Bank depositors hold protest outside RBI headquarters in Mumbai
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
 "PMC Bank depositors hold protest outside RBI headquarters in Mumbai")
HDIL's Wadhawans sent to ED custody till October 22 in PMC Bank scam case
The duo had been arrested by the Economic Offences Wing (EOW) of Mumbai Police in connection with the case earlier this month
 "HDIL's Wadhawans sent to ED custody till October 22 in PMC Bank scam case")
Fourth incident of PMC depositor death, 'had no funds for surgery'
This is a fourth incident of the death of a depositor of the Punjab & Maharashtra Cooperative Bank after the RBI appointed administrator on the city-headquartered lender
 "Fourth incident of PMC depositor death, 'had no funds for surgery'")
SC refuses to take up PMC depositors' plea to lift withdrawal restrictions
A bench headed by Chief Justice of India Ranjan Gogoi said, "We are not inclined to entertain this petition under article 32,
 "SC refuses to take up PMC depositors' plea to lift withdrawal restrictions")
PMC Bank scam: Ex-director sent in police custody till October 22
The court also remanded the bank's former managing director Joy Thomas in 14-day judicial custody, after his police remand ended on Thursday
 "PMC Bank scam: Ex-director sent in police custody till October 22")
Will safeguard depositors' interests, PMC Bank management assures RBI
Administrator J B Bhoria and his team met Shaktikanta Das and other senior officials on Wednesday to apprise them of the position of the bank after relaxation of the withdrawal limit to Rs 40,000
 "Will safeguard depositors' interests, PMC Bank management assures RBI")
