The Reserve Bank is closely monitoring the situation at the bank and a forensic audit is underway, governor Shaktikanta Das had said earlier amid persisting uncertainty over depositors' funds

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

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.

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 unions said ensuring \"proper governance in the system\" and \"removing political interference\" will address the problem of NPAs that has been weakening the financial health of the PSBs

PMC Bank was amongst 46 banks -public, private, rural and multi state cooperative - to take part in the broad basing of NPCI's equity shareholding from the initial 10 large scheduled commercial banks.

Elaborating on changes required, he said, \"We should seriously think of reducing equity share of government in public sector banks below 50 per cent so that the Central Vigilance Commission does not regulate (PSU banks)\".

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

A Supreme Court bench headed by Chief Justice of India Ranjan Gogoi asked petitioner can approach the concerned high court for appropriate relief

The external directors raising the issue comes at a time when the RBI is facing a lot of flak over its inspection and oversight mechanism efficiency.

PMC bank scam: The Mumbai police had arrested HDIL directors Rakesh Wadhawan and Sarang Wadhawan on Thursday last week in relation to the PMC Bank fraud. Singh was arrested on Saturday last week.

PMC Bank crisis: The ED filed a money laundering case against the HDIL promoters in the Rs 4,355 crore Punjab and Maharashtra Cooperative (PMC) Bank fraud case. The agency is also looking for details of other 18 companies linked to HDIL.

PMC Bank crisis: These loans were not recorded in core banking system, instead they were mere entries in the \"master indent\" (details of loan accounts) submitted to the RBI for inspection, the EOW said.

According to the letter, 450 HDIL homebuyers have paid a total of Rs 350 crore to the bankrupt realtor for a suburban Mulund project, which has been stuck for nine years now. 

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

Mumbai Police on Thursday arrested HDIL promoters Rakesh Kumar Wadhawan and Sarang Wadhawan in the PMC Bank loan case; both have been sent to police custody till October 9