PMC Bank's present administrator Jai Bhagwan Bhoria has stepped down on September 22 due to health reasons

Finance Minister Nirmala Sitharaman said the amendments have been brought to completely protect the interest of depositors and will also help a quick recovery in cases of stressed co-operative banks without any moratorium

CBI has named Kwality Ltd's ex-promoter Sanjay Dhingra, and other company executives in the case

Microsoft co-founder Bill Gates in an interview has reiterated his concern for climate change ; In what may come as the most surprising turn of events, the US has said it will ban TikTok and WeChat from the app stores; PMC Bank scam: ED attaches 3 hotels in Delhi worth Rs 100 crore. Watch this and more news on News Blast.

PMC Bank scam: ED attaches 3 hotels in Delhi worth Rs 100 croreThe Enforcement Directorate (ED) on Friday attached three hotels in Delhi valued at around Rs 100 crore under Prevention of Money Laundering Act (PMLA), 2002 in connection with the PMC Bank fraud case. The three hotels that have been attached by the agency belong to the Fab Hotels group and are located in Kailash Colony, East of Kailash and Kalkaji areas of the national capital.Parliament passes bill to cut salary of MPs by 30% ...

The court order means that Harsh Vardhan Lodha ceases to hold all positions in the MP Birla Group, including his role as director on the boards of MP Birla companies, listed entities Vindhya Telelinks Ltd, Birla Cables Ltd and Universal Cables Ltd

The three hotels, that have been attached by the ED, are owned by Libra Realtors Pvt Ltd, Deewan Realtors Pvt Ltd, Rakesh Kumar Wadhawan, Romy Mehra, Libra Hotels Pvt Ltd and its directors

IPS Officer Amitabh Gupta was the principal secretary with the Maharashtra home department when he granted permission to 23 members of the Wadhawan family to travel to Mahableshwar from Mumbai for a \"picnic\" in April

Moving bill in Lok Sabha, Finance Minister Nirmala Sitharaman says government was compelled to come out with an ordinance as condition of cooperative banks is \"grave\"; as many as 277 urban cooperative banks have reported losses in 2018-19 fiscal, she adds

PMC has \"tried to engage with the major banks of the country to request for a merger\", the bank's administrator said in a Sept. 10 filing at the Delhi High Court, without identifying the banks or giving other details

The standard advantage of a bad bank is that the entity taking a decision on the sale price is different from the entity accepting that price

The Reserve Bank of India (RBI) took control of PMC last September after it was accused of fraud and concealing non-performing loans

In his petition filed before HC, Wadhawan, who is presently lodged at the Arthur Road prison in central Mumbai, sought to be shifted to hospitals like Lilavati, Nanavati or Criticare

India faces a fresh threat of NPAs with RBI warning dramatic rise in loan default rate from 8.5% in FY20 to 14.7% in FY21. A global study shows the Indian corporate sector was most debt-stressed with 43% of long-term loans vulnerable to default even before the COVID-19 pandemic hit

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Senior citizens who primarily depend on FDs to manage their retirement expenses, have seen their income falling drastically within few years. When all major big banks are offering interest rates around 6 per cent the rates offered by many small finance banks look quite attractive

Apart from rise in financial frauds in private companies in India, recent years have also witnessed a rise in the role of shell companies and tax havens in their operations, raising further concerns about illicit operations

The court on May 28 had asked the Centre, the RBI and PMC Bank to appreciate the difficulties faced by the depositors on withdrawals during COVID-19 pandemic.

Wadhawan, an accused in the Rs 4,335 crore scam, had earlier asked for bail claiming he had not violated any banking regulations

Shaktikanta Das said that from February 2019 onward RBI had cut 135 basis points repo rate till the onset of coronavirus to tackle the slowdown in growth