The BharatPe-Centrum combine is one of the four bidders that have made submissions to the Reserve Bank of India for acquiring PMC Bank. The other bidders include UK's Liberty Group and two independent business houses

BharatPe and Centrum Group are among four groups that have made the submissions to the Reserve Bank of India (RBI) for the acquisition of PMC Bank

The RBI-appointed administrator for PMC Bank issued a public notice seeking a bid for Dassault Falcon 200 (VT-HDL) and Challenger 300 (VT-PIL), and one yacht (Ferreti 881 HT) this week

RBI panel's proposal to allow big corporates/industrial houses to own and run banks and NBFCs is contrary to RBI's own earlier stand, economic logic and historical evidence of multiple economic crises caused by reckless private financial sector players

LVB is a small bank and its failure won't significantly impact the banking sector, but it's the loss of confidence and trust in banking system that has escalated with this crisis

The exercise is meant to find equity investors willing to take over the management of PMC Bank in order to revive the beleaguered lender and resume its day-to-day operations

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

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

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

Contrary to popular notion, stock markets have repeatedly demonstrated since the 1929 Great Depression that their performance is not really linked to macroeconomic and business fundamentals

This would be the first such meet since the coronavirus outbreak. The RBI board is also expected to discuss the state of economy, and banking sector in particular

With the relaxation in withdrawal limit, more than 84 per cent of the PMC Bank's depositors will be able to withdraw their entire account balance