Over 6,000 homebuyers put their life savings in HDIL projects, but their dream of owning a house in India’s financial capital remains elusive as the firm went into insolvency.
Finance Minister Nirmala Sitharaman said the legislation will benefit small depositors, including those of the Punjab and Maharashtra Cooperative Bank.
In September 2019, RBI had placed PMC under regulatory restrictions, including cap on withdrawals by its customers, after detection of certain financial irregularities.
PMC Bank, put under restrictions in September 2019, had invited expressions of interest in November, and 4 entities — financial sector players and corporates — have come forward.
RBI’s process to fix the bank hasn’t yielded any results. The bank’s net worth is wiped out and its depositors are struggling with restrictions on withdrawal.
Despite growing passenger volume, 11 out of 14 carriers reported losses in 2023-24. IndiGo recorded profit of Rs 8,167 crore, which reduced to Rs 7.253 crore in 2024-25.
Dubai airshow crash & pilot death have rekindled concerns over pilot safety, and need for smarter automated systems that can step in when G-forces, temporary loss of consciousness hit the pilot.
None of Pakistan’s PMs has lasted 5 years. That the current PM has given Asim Munir 5 years shows that of all military dictatorships history has seen, Pakistan’s is most creative.
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