Saturday, 20 August, 2022
TopicPMC Bank scam

Topic: PMC Bank scam

How Modi govt’s ordinance on cooperative banks can prevent PMC-like scams, protect depositors

There have always been questions over who controls cooperative banks in India, states or the Centre. The ordinance empowers RBI to intervene in failing banks.

Shock in Mumbai Police as ‘honest’ top cop gets blamed for Wadhawan family trip 

Those who worked with principal secretary (special) Amitabh Gupta describe him as an efficient, non-controversial and honest officer. 

Inspection report of scam-hit PMC Bank yet to be finalised, says RBI

The multi-state co-operative bank has been under RBI restriction since 23 September, after the central bank found huge under-reporting of loans & non-performing assets.

Shiv Sena leader seeks merger of ailing PMC Bank to provide relief to depositors

Raising the issue in the Maharashtra Legislative Assembly, Shiv Sena leader Ravindra Waikar claimed 19 depositors of the bank have died ever since the scam came to light in September this year.

Depositors of failed banks will get only upto Rs 1 lakh insurance cover: RBI subsidiary

Deposit Insurance and Credit Guarantee Corporation (DICGC)'s response comes in the wake of the PMC Bank crisis and other bank frauds that have put people's savings at risk.

RBI closely monitoring PMC bank scam, forensic audit underway, says Shaktikanta Das

PMC was placed under an RBI administrator on 23 September for six months due to massive under-reporting of dud loans.

PMC Bank depositors stage protest outside RBI demanding complete money withdrawal

The RBI in September imposed restrictions on withdrawals from PMC accounts after it found alleged irregularities to the tune of Rs 4,355 crore by diverting money to infrastructure firm HDIL.

Parties over, no lunches: Why Bollywood is avoiding HDIL gilded couple Sunny and Anu Dewan

For the couple's Bollywood friends to admit any proximity now is to implicate themselves in the consumption of life savings of PMC's depositors.

Supreme Court refuses to hear PMC account holders’ plea on lifting RBI cap on withdrawals

Solicitor General Tushar Mehta said the govt is aware of the seriousness of the PMC Bank scam and the Enforcement Directorate is taking appropriate action against the culprit.

On Camera

YourTurn

Sir Ganga Ram hospital Consultants, Residents and DNB students hold placards during a protest in New Delhi, on 30 December 2021 | PTI

Distrust of Indian doctors isn’t new. Class-caste bias always ruled medical profession

As a practising doctor, I discovered large question marks on claims of a trustful patient-doctor relationship in the past. The routine dehumanisation of underprivileged patients remains a rarely mentioned topic.
Farmers plant paddy saplings in a field | PTI Photo

Good news from the farm as India’s FY22 foodgrain production estimated at record 316 mn tonnes

Wheat production estimate sees marginal upward revision to 106.8 million tons, though current rate lowest in 3 years.

Defence

Representational image. A file photo of an Indian Air Force Cheetah helicopter. | Photo: Commons

IAF operation underway to rescue Italian mountaineer stranded on Mount Nun in Ladakh

The IAF deployed its ‘Cheetah’ helicopter to rescue mountaineer Federico Nicoli. Mount Nun is the second highest peak in the Zanskar Valley of Ladakh.
NI 13.08

Tiranga vs Tiranga: Gloves are off as Kejriwal joins the ‘nationalism’ battle with Modi

Kejriwal’s maun vrat on Modi has ended. This is an important turn in Indian politics. In some ways rivalling the dramatic turn in Bihar.
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