Wednesday, 28 September, 2022
TopicPMC Bank

Topic: PMC Bank

Lok Sabha passes bill allowing depositors to get insurance money in 90 days

Finance Minister Nirmala Sitharaman said the legislation will benefit small depositors, including those of the Punjab and Maharashtra Cooperative Bank.

Depositors can now get insurance money in 90 days if their bank is placed under moratorium

The Union cabinet has cleared changes in a decision that will help depositors in banks that have been placed under a moratorium by the RBI.

How did fintech start-up BharatPe manage to win a banking licence from RBI?

BharatPe’s unexpected bonanza could well set a template for post-Covid recapitalisation of Indian lenders.

RBI allows takeover of PMC bank by Centrum Financial Services to set up small finance bank

In September 2019, RBI had placed PMC under regulatory restrictions, including cap on withdrawals by its customers, after detection of certain financial irregularities.

Hope for troubled PMC Bank as 4 entities show interest in acquiring it

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.

Delhi HC pulls up RBI for letting PMC Bank decide on depositors’ emergency money requests

The court said the RBI cannot act as a post office and has to be the one deciding which depositors can access money, and not PMC Bank.

Mumbai designer’s financial distress began before Arnab Goswami’s office contract

A selection of the best news reports, analysis and opinions published by ThePrint this week.

Ray of hope for PMC Bank revival as investors show interest

Potential investors will have the option to convert PMC Bank into a small finance bank provided they meet the RBI’s licensing conditions.

Net worth wiped out, withdrawal restrictions, no resolution — PMC Bank’s worse off 1 year on

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.

ED attaches 3 Delhi hotels worth Rs 100 crore in PMC Bank case

The hotels belonged to the Fab Hotels group. Last year, ED filed a PMLA case to probe into alleged loan fraud in the Punjab and Maharashtra Co-operative Bank.

On Camera

YourTurn

The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad | Reuters file photo

From ports to energy transition — Adani Group to invest over $100 billion in next decade

Speaking at Forbes Global CEO Conference in Singapore, Adani said the group intends to do more as a solar player & has earmarked 70% of the investment for the energy transition space.

Defence

Parts of Iranian made 'suicide' drone Shahed-136 after being shot down by the Ukrainian military | Reuters

All about Shahed-136, Iran’s ‘kamikaze’ drone that Russia is using to strike Ukraine

Over the past few days, Russia has hit multiple targets using these Iranian-supplied drones—including civilian structures and amenities—leading to the death of several Ukrainians.
Illustration by Soham Sen | ThePrint

AAP’s filling a big vacuum in Indian politics. Question is how long it can sustain without ideology

If you find admiration for AAP qualified, if not muted among many of the Modi-BJP’s critics, it is because they question it for its lack of ideological clarity. Especially on secularism.
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