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Lakshmi Vilas Bank's Financial Crisis Sparks Panic Among Customers
Mythili Krishnamoorthi is distraught - her family faces a medical emergency and requires a large sum of money. But all her savings are now under a withdrawal moratorium imposed by the Reserve Bank of India (RBI) on Lakshmi Vilas Bank. The Chennai resident is desperate for the banking regulator to approve her plea for exemption to withdraw up to Rs ...
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RBI Taking Actions To Provide Relief To PMC Customers: Anurag Singh Thakur
Commenting on the ongoing protests by the account holders of the Punjab and Maharashtra Cooperative (PMC) Bank, Minister of State (MoS) for Finance Anurag Singh Thakur on Sunday said that the Reserve Bank Of India (RBI) is taking requisite steps to resolve the issue.
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Top PMC Officials Hid HDIL Accounts From System, RBI Tells Court
Senior officials of scam-hit Punjab & Maharashtra Cooperative Bank used special codes to hide hundreds of dummy loan accounts of HDIL, to which the bank had over 73 per cent of its loan exposure, the RBI informed the Bombay High Court on Tuesday.
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PMC Customers Protest Outside RBI In Delhi, Demand Full Money Withdrawal
Scam-hit Punjab & Maharashtra Co-operative Bank's depositors staged protest outside the Reserve Bank Of India (RBI) office here on Wednesday, demanding complete withdrawal of their money from the bank.
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High Court Seeks Centre, RBI Response On Insuring PMC Bank Customers
The Delhi High Court on Friday asked the Centre, the RBI and others to file response plea seeking directions for redressal of certain aspects, including ensuring depositors' money blocked in the scam-hit Punjab and Maharashtra Co-operative (PMC) Bank and to frame guidelines to safeguard deposited money.
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PMC Bank Crisis: PMC Bank Customers Stage Protest Outside RBI
Around 50 depositories of the scam-hit Punjab and Maharashtra Cooperative Bank staged a protest outside the RBI demanding revoking restrictions on cash withdrawal, currently capped at Rs 40,000 over a six-month period.
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Man With 90 Lakhs Deposit In Crisis-Hit PMC Bank Dies Hours After Protest
PMC Bank Crisis: An account holder at the Punjab Maharashtra Co-operative (PMC) Bank, who had deposits of over Rs 90 lakh with the troubled bank, died in Mumbai on Monday. He died of a heart attack hours after attending a protest by distressed customers of the bank outside a Mumbai court.
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"Justified Worries...": Finance Minister Speaks To RBI Chief On PMC Bank
Finance Minister Nirmala Sitharaman today reached out to customers of the troubled Punjab and Maharashtra Cooperative (PMC) Bank amid concerns over long-term freeze on withdrawing funds from the bank. The Reserve Bank of India (RBI) - following demands from angry PMC Bank customers - had thrice raised withdrawal limit from Rs 1,000 to Rs 10,000 to ...
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Nirmala Sitharaman Assures PMC Bank Clients, Says Will Talk To RBI Chief
Finance Minister Nirmala Sitharaman said she will speak with the RBI Governor this evening over the distress of depositors of Punjab Maharashtra Co-operative (PMC) Bank. She met a group of angry customers of the cooperative bank in Mumbai this afternoon just before addressing a press conference.
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PMC Bank Crisis: Police Custody Of HDIL Directors Extended To October 14
A Mumbai court has extended police custody of HDIL Directors Rakesh and Sarang Wadhwan till October 14 after they were arrested last week in connection with loan default worth Rs 4,355 crore at PMC Bank
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In PMC Bank Crisis, Directors Of Firm Accused Of Loan Default Arrested
Two directors of the real estate firm HDIL that set off the massive crisis at the Punjab Maharashtra Co-operative (PMC) Bank by defaulting on loans worth nearly Rs 6,500 crore have been arrested. Rakesh Wadhawan and Sarang Wadhawan, senior executives at Housing Development and Infrastructure Ltd (HDIL), were arrested by the Economic Offences Wing o...
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PMC Bank Lost Rs 4,300 Crore, Case Against Promoters Of Defaulting Firm
A police case has been filed against Sarang Wadhawan and Rakesh Kumar Wadhawan, promoters of the crisis-hit real estate firm Housing Development and Infrastructure Ltd (HDIL), for loan default reported to be worth up to Rs 4,300 crore, sources said.
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"Told Money In Bank Safe. What Safety?": Angry PMC Depositors On RBI Move
PMC bank customers left stressed after the RBI imposed withdrawal limits have lodged a complaint at a Mumbai police station, pointing out they have been cut off from their hard-earned money for no fault of theirs
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Lakshmi Vilas Bank's Financial Crisis Sparks Panic Among Customers
Mythili Krishnamoorthi is distraught - her family faces a medical emergency and requires a large sum of money. But all her savings are now under a withdrawal moratorium imposed by the Reserve Bank of India (RBI) on Lakshmi Vilas Bank. The Chennai resident is desperate for the banking regulator to approve her plea for exemption to withdraw up to Rs ...
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RBI Taking Actions To Provide Relief To PMC Customers: Anurag Singh Thakur
Commenting on the ongoing protests by the account holders of the Punjab and Maharashtra Cooperative (PMC) Bank, Minister of State (MoS) for Finance Anurag Singh Thakur on Sunday said that the Reserve Bank Of India (RBI) is taking requisite steps to resolve the issue.
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Top PMC Officials Hid HDIL Accounts From System, RBI Tells Court
Senior officials of scam-hit Punjab & Maharashtra Cooperative Bank used special codes to hide hundreds of dummy loan accounts of HDIL, to which the bank had over 73 per cent of its loan exposure, the RBI informed the Bombay High Court on Tuesday.
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PMC Customers Protest Outside RBI In Delhi, Demand Full Money Withdrawal
Scam-hit Punjab & Maharashtra Co-operative Bank's depositors staged protest outside the Reserve Bank Of India (RBI) office here on Wednesday, demanding complete withdrawal of their money from the bank.
-
High Court Seeks Centre, RBI Response On Insuring PMC Bank Customers
The Delhi High Court on Friday asked the Centre, the RBI and others to file response plea seeking directions for redressal of certain aspects, including ensuring depositors' money blocked in the scam-hit Punjab and Maharashtra Co-operative (PMC) Bank and to frame guidelines to safeguard deposited money.
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PMC Bank Crisis: PMC Bank Customers Stage Protest Outside RBI
Around 50 depositories of the scam-hit Punjab and Maharashtra Cooperative Bank staged a protest outside the RBI demanding revoking restrictions on cash withdrawal, currently capped at Rs 40,000 over a six-month period.
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Man With 90 Lakhs Deposit In Crisis-Hit PMC Bank Dies Hours After Protest
PMC Bank Crisis: An account holder at the Punjab Maharashtra Co-operative (PMC) Bank, who had deposits of over Rs 90 lakh with the troubled bank, died in Mumbai on Monday. He died of a heart attack hours after attending a protest by distressed customers of the bank outside a Mumbai court.
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"Justified Worries...": Finance Minister Speaks To RBI Chief On PMC Bank
Finance Minister Nirmala Sitharaman today reached out to customers of the troubled Punjab and Maharashtra Cooperative (PMC) Bank amid concerns over long-term freeze on withdrawing funds from the bank. The Reserve Bank of India (RBI) - following demands from angry PMC Bank customers - had thrice raised withdrawal limit from Rs 1,000 to Rs 10,000 to ...
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Nirmala Sitharaman Assures PMC Bank Clients, Says Will Talk To RBI Chief
Finance Minister Nirmala Sitharaman said she will speak with the RBI Governor this evening over the distress of depositors of Punjab Maharashtra Co-operative (PMC) Bank. She met a group of angry customers of the cooperative bank in Mumbai this afternoon just before addressing a press conference.
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PMC Bank Crisis: Police Custody Of HDIL Directors Extended To October 14
A Mumbai court has extended police custody of HDIL Directors Rakesh and Sarang Wadhwan till October 14 after they were arrested last week in connection with loan default worth Rs 4,355 crore at PMC Bank
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In PMC Bank Crisis, Directors Of Firm Accused Of Loan Default Arrested
Two directors of the real estate firm HDIL that set off the massive crisis at the Punjab Maharashtra Co-operative (PMC) Bank by defaulting on loans worth nearly Rs 6,500 crore have been arrested. Rakesh Wadhawan and Sarang Wadhawan, senior executives at Housing Development and Infrastructure Ltd (HDIL), were arrested by the Economic Offences Wing o...
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PMC Bank Lost Rs 4,300 Crore, Case Against Promoters Of Defaulting Firm
A police case has been filed against Sarang Wadhawan and Rakesh Kumar Wadhawan, promoters of the crisis-hit real estate firm Housing Development and Infrastructure Ltd (HDIL), for loan default reported to be worth up to Rs 4,300 crore, sources said.
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"Told Money In Bank Safe. What Safety?": Angry PMC Depositors On RBI Move
PMC bank customers left stressed after the RBI imposed withdrawal limits have lodged a complaint at a Mumbai police station, pointing out they have been cut off from their hard-earned money for no fault of theirs
