A court on Wednesday had remanded in police custody till December 11, two directors of the PMC Bank, arrested in connection with the ongoing probe of a Rs 4,355 crore scam at the bank. The Economic Offences Wing (EOW) of the Mumbai Police had arrested three PMC Bank directors- Jagdish Mookhey, Mukti Bavisi and Trupti Bane- on Tuesday.
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Last Updated: 29th October, 2019 19:38 IST PMC Bank Scam: RBI Mulling Bank's Merger As Depositors Demand Savings In a major development is the PMC Bank crisis, the Reserve Bank of India on Tuesday, is mulling at a potential merger of the debt-ridden PMC Bank with any bank.
In October, police alleged that Punjab and Maharashtra Co-operative Bank (PMC) had used more than 21,000 fictitious accounts to hide loans it made to a single real estate firm.. Latest News.
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With the Reserve Bank of India (RBI) superceding commercial bank Yes Bank on Thursday for a period of 30 days, many have likened the scenario to the PMC Bank scam which spread panic amongst depositors in September 2019.
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PMC bank depositors protest in Mumbai, want restrictions on cash withdrawal lifted ANI - 19 October, 2019 The bank had initially capped the deposit withdrawal at Rs 10,000 but later raised it to Rs 40,000.
The PMC Bank, which has around 16 lakh depositors, was placed under an RBI administrator on September 23 for six months due to massive under-reporting of dud loans.PMC Bank: Get PMC Bank Latest News, Videos and Photos also find Breaking news, updates, information on PMC Bank. Explore more on PMC Bank at Dnaindia.com.Founded in 1984, PMC Bank was the youngest bank to get the status of a scheduled bank in 2000 and a licence of authorised dealer category 1 in the year 2011 for forex business by the RBI. PMC Bank has 137 branches spread across seven states with 81 of these in Mumbai, Navi Mumbai, Thane and Palghar regions, 10 in Pune and 12 in the rest of Maharashtra.