December 04, 2019 8:39 am
Police said the three directors of the PMC bank did not alert RBI officials about the unpaid loans that the Wadhawans, also accused in the case, owed the bank.
November 23, 2019 6:51 am
The Economic Offences Wing (EOW) of the Mumbai Police had arrested the Wadhawans for their alleged involvement in siphoning off money from the Bank.
November 20, 2019 1:37 am
Eventually, the bank gave overdraft facility worth around Rs 2,500 crore to HDIL and by the time the alleged fraud was unearthed in October, HDIL owed the bank Rs 4,355 crore, including the interest accrued.
November 17, 2019 1:21 am
Rajneet Singh was on the board of directors of the bank and also a part of its loan recovery committee.
November 16, 2019 10:17 pm
Rajneet was taken into custody in the evening at the EOW office, as investigators found his replies on the loan granted to the realty group HDIL, which has failed to repay, unsatisfactory and unconvincing, according to the official.
November 07, 2019 3:54 pm
PMC Bank, among the top 10 urban cooperative banks in the country, was placed under an RBI administrator on September 23 for six months due to massive under-reporting of dud loans.
November 06, 2019 10:57 am
At least nine depositors of PMC Bank were detained Tuesday when they tried to meet Union Finance Minister Nirmala Sitharaman at an event in Mumbai, police said.
November 05, 2019 5:43 pm
The RBI's directive came after nine depositors of the scam-hit bank were detained today for protesting outside the RBI office in Mumbai, demanding they be allowed to withdraw money from their accounts above the limit prescribed by the apex bank
November 05, 2019 1:19 am
In September, the RBI imposed restrictions on PMC Bank after they found irregularities to the tune of Rs 4,355 crore in bank accounts. A case has been registered by the Mumbai Economic Offence Wing and they have arrested five people, including the promoters of HDIL Rakesh and Sarang Wadhwan.
November 04, 2019 3:35 pm
Bombay High Court on Monday sought to know from the Reserve Bank of India (RBI) what steps it has taken to protect the interests of depositors of the crisis-hit Punjab and Maharashtra Cooperative (PMC) Bank. On Monday, the bench said it only wanted to know what the RBI was doing in the case.