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What is PMC Bank Crisis
Latest Updates on PMC Bank Crisis
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
The RBI had put a six-month regulatory restriction on the bank on September 23, 2019
CBDT asks lender to deduct tax at source on notional interest paid
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
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
The RBI declined to give copies of two complaints received by it regarding 'irregularities' in the bank and the action taken on them
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
The Wadhawans have been booked under various provisions of the PMLA
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.
The protestors raised slogans against the court, the RBI and PMC Bank
It directed the RBI to file its affidavit and posted the matter for further hearing on November 19
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
If RBP kicks in, there will be a shakeout among urban-cooperative banks
Accusing the government of lying about the economic situation, Yechury alleged that public money was being used for PR
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
The duo had been arrested by the Economic Offences Wing (EOW) of Mumbai Police in connection with the case earlier this month
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
A bench headed by Chief Justice of India Ranjan Gogoi said, "We are not inclined to entertain this petition under article 32,
The court also remanded the bank's former managing director Joy Thomas in 14-day judicial custody, after his police remand ended on Thursday
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