The RBI has already created a unified department of supervision and a unified department of regulation from November 1 this year

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Next wave of reforms soon; pain points in manufacturing to be resolved: FM SitharamanFinance Minister Nirmala Sitharaman on Tuesday said the government will soon use its strong electoral mandate to usher in the next wave of reforms, and not to miss the bus this time. Without naming the reform measures unsuccessfully attempted by the Modi government in its first term, and in an apparent hint at land acquisition reform attempts by NDA1, she said the government's efforts last time we...

The Mumbai Police's Economic Offences Wing has served summons to Daljit Singh Bal for questioning at his address but till date he remains on the run

The police had filed an FIR against Thomas for misrepresenting the bank's loan books and not revealing the bad loans of HDIL

While the priority for the Economic Offences Wing of the Mumbai Police is to interrogate the arrested parties involved in the Rs 4,355 crore loan fraud at the Punjab and Maharashtra Co-operative (PMC) Bank, the buzz is that the findings of the auditors submitted in past financial reports may also be scrutinised as part of the investigations

With this, all the accused named in the PMC Bank scam have been arrested. On Friday, suspended PMC Bank managing director Joy Thomas was arrested, whereas the Wadhawan duo were detained on Thursday

The Economic Offences Wing (EOW) of Mumbai Police on Friday arrested the suspended managing director of Punjab and Maharashtra Cooperative (PMC) Bank Joy Thomas

Defending the RBI's action in the PMC case, Shaktikanta Das said the central bank acted very swiftly and promptly after it was brought to its notice

Rakesh is the executive chairman of HDIL, whereas Sarang is the managing director of the company. The government had issued a look-out circular to stop them from leaving the country

The RBI has appointed Jai Bhagwan Bhoria as the administrator of the PMC Bank with all the powers of the board

Thomas, in the letter to the RBI, admitted that the exposure to HDIL Group was over Rs 6,500 crore, which is nearly 73 per cent of its total loan book of Rs 8,880 crore as of September 19, 2019

PMC Bank crisis: The Congress spokesperson said that PMC Bank's collapse and RBI's restriction on withdrawal has brought back the horrors of demonetisation for PMC Bank customers.

PMC Bank crisis: The Reserve Bank of India (RBI) increased the withdrawal limit for Punjab and Maharashtra Co-operative Bank (PMC) depositors to Rs 10,000 from the initial Rs 1,000

PMC Bank crisis: Customers have also written to the RBI to revoke the restrictions made on the lender. The letter states that such a restriction will inflict great hardship on the depositors.

Wenig, 52, will be replaced with Chief Financial Officer Scott Schenkel on an interim basis

The Reserve Bank of India (RBI) imposed regulatory restrictions on Mumbai-based Punjab and Maharashtra Cooperative Bank (PMC). Following the RBI order that account holders will be able to withdraw only Rs 1,000 from their accounts, angry customers have thronged the bank's branches demanding some explanation. Watch the video for more.

The Reserve Bank of India has put operational restrictions on PMC Bank as it investigates the alleged charges of irregularities in the bank

PMC Bank: Customers have also urged the RBI to allow them to withdraw their money before implementing the restrictions.