Saturday, 21 May, 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

Title scene of Taarak Mehta ka ooltah chashmah.

Dear Taarak Mehta, you were our peak comfort content for 14 years. Now it’s time to retire

Just like the Truman Show, all Taarak Mehta plots somehow feel the same for the past few years. It's fine to accept that ideas can go stale.
An attendant refills a two-wheeler with fuel at a petrol pump in New Delhi Saturday | ANI

Under fire for spiraling inflation, Modi govt announces excise duty cut on fuels, LPG subsidy

It has also decided to enhance the fertiliser subsidy for farmers, and reduce import duty on some raw materials. ‘It is always people first for us!’ tweets prime minister.

Defence

File photo of a defence personnel armed with a SiG 716 rifle near the Line of Control | Photo: Snehesh Alex Philip | ThePrint

India to ink ‘repeat order’ deal for 73,000 SiG 716 rifles from the US

In February 2019, 72,400 SiG 716 rifles of 7.62 x 51mm calibre were contracted from SIG Sauer Inc, USA, under government's 'Buy (Global) category', through fast track procedure.

Mandir or Masjid? New surveys not needed, just acceptance of truth & move towards reconciliation

That temples were destroyed and mosques built is undisputed history. The past can’t be changed, but we can’t deny the wrongs of the past either before we consider reconciliation.
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