Sunday, 3 July, 2022
TopicPMC Bank

Topic: PMC Bank

Pratap B Mehta on protest, M Sabnavis on making bank deposits safe & what millenials want

Rachel John -
The best of the day’s opinion, chosen and curated by ThePrint’s top editors.

On PMC Bank case, Nirmala Sitharaman says govt will discuss legislative steps

PTI -
Finance Minister Nirmala Sitharaman faced protests by depositors after PMC Bank was put under RBI "directions" due to its weak financial health.

Shadow banking crisis tests stock bulls’ faith in rally

Abhishek Vishnoi -
The Sensex index erased almost half of the surge sparked by the corporate tax cut as debt concerns emerge at lenders, including Indiabulls Housing Finance Ltd. and PMC Bank.

Court sends PMC Bank ex-MD Joy Thomas to police custody until 17 October

PTI -
Police say they want to question the former PMC Bank MD for the alleged Rs 4,355 crore scam, but his lawyers claim he he is being made a 'scapegoat'.

Two HDIL directors arrested in PMC Bank scam, property worth Rs 3,500 crore frozen

PTI -
HDIL directors Rakesh Wadhawan and his son Sarang Wadhawan, accused of loan default, were arrested by the Economic Offences Wing of Mumbai Police.

Pragya Thakur, Akash Vijayvargiya’s NYT read on Mahatma & peaks for Trump’s presidency

Fiza Jha -
The best cartoons of the day, chosen by the editors at ThePrint.

RBI set to cut rates tomorrow amid worries over crises at PMC, Lakshmi Vilas Bank

Anirban Nag -
RBI is set to lower its benchmark rate for fifth time this year Friday, days after it reassured the public that banking system is safe and stable.

What Chinmayanand shares with India and a ‘muted’ Kashmir

Fiza Jha -
The best cartoons of the day, chosen by the editors at ThePrint.

How PMC Bank hid its bad loans and duped RBI for years

Suvashree Ghosh -
A letter by PMC Bank’s former managing director describes in detail how the bank duped RBI about its growing exposure to HDIL.

PMC Bank crisis exposes failure of Indian regulators

Suvashree Ghosh -
Only 54 big lenders are monitored by RBI & investors are now trying to figure out whether they pose new threat to banking system hobbled by bad loans.
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Economy

Representational image of a protest against rise in prices of fuel and LPG, in Kolkata | ANI

You thought inflation’s high in India? Data shows at least 100 countries doing worse

Nikhil Rampal -
Lebanon faces worst inflation rate in the world, followed by Zimbabwe and Sudan, according to 'Trading Economics', which sources data from governments.

Defence

Army personnel give military honours to the soldiers of Territorial Army's infantry 107 battalion who lost their lives in the Manipur Landslide, 2 July 2022, Siliguri | Credits: ANI Photo/ ANI Pic Service

A look at the Territorial Army — The Indian military’s task force hit by the Manipur landslide

Suchet Vir Singh -
The Territorial Army, a part-time military organisation for Indians who may have other jobs, is essentially a volunteer force that can be quickly mobilised in the defence of a state.

National Interest

Moral, political & ideological questions on Maharashtra: 1st is simplest to answer, 3rd trickiest

Shekhar Gupta -
What is Shiv Sena’s ideology? We might say it’s been a convenient mix of extreme ethnic chauvinism & unforgiving Hindutva. Within the second, the party retained space to manoeuvre.

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