The primary agenda of the meeting was to discuss the disposal of attached assets and associated legal procedure to raise funds for repaying the depositors and reconstructing the crisis-hit PMC Bank

The last revision in the current limit of deposit insurance was effected on May 1, 1993, after the Bank of Karad collapsed in the securities scam of 1992

With regard to deposit guarantee insurance limit hike, Sitharaman said it may not be part of cooperative bank legislation but part of some other laws

The auditors identified as Jayesh Sanghani and Ketan Lakdawala belong to an audit firm, which was hired by Punjab and Maharashtra Cooperative (PMC) Bank to conduct routine audits

PMC Bank, among the top 10 urban cooperative banks in the country, was placed under an RBI administrator on September 23 for six months due to massive under-reporting of dud loans

PMC Bank scam: The depositors, who gathered were from Tilak Nagar in West Delhi where the bank has a branch, said most of their families have collective deposits in excess of Rs 51 lakh in the bank.

These three hotels are run by HDIL promoter Rakesh Kumar Wadhawan's daughter; he is a promoter and a shareholder in the company that owns these hotels

The RBI, after reviewing the bank's liquidity position and its ability to pay its depositors, has decided to further enhance the limit for withdrawal to Rs 50,000, inclusive of Rs 40,000 allowed earlier

The locations raided were across Andhra Pradesh, Chandigarh, Delhi, Gujarat, Haryana, Karnataka, Kerala, MP, Maharashtra, Punjab, Tamil Nadu, Telengana, UP, Uttarakhand, and Dadra & Nager Haveli.

PMC Bank crisis: The Wadhawans have also given their consent to selling 18 of their attached assets that includes two private jets, a range of high-end cars and a speed boat.

PMC Bank crisis: The Director said that she had no knowledge of the HDIL scam and had recently deposited Rs 10 lakh in the bank, which corroborates her claims.

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

PM Bank crisis: BJP Maharashtra Vice-President Kirit Somaiya tweeted on Wednesday morning that needy depositors can apply for the same at their respective branches.

Punjab and Maharashtra Cooperative (PMC) Bank's former director Surjit Singh Arora was arrested last week by Mumbai Police's Economic Offences Wing (EOW) in connection with the alleged Rs 4,355 crore scam

Nearly a month after the RBI clamped down on the operations of scam-hit PMC Bank, the depositors say their woes have only worsened, with some unable to pay school fees of their wards, while others finding it difficult to meet medical expenses