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Reddy was speaking at a two-day leadership conclave jointly organized by the Institute for Advanced Studies in Complex Choices and XLRI, Jamshedpur, in Hyderabad.

In a bid to enhance corporate governance, the capital markets regulator extended the Business Responsibility Report (BRR) requirement to top 1,000 companies, from 500 presently

The Reserve Bank of India said that it also intends to soon initiate the resolution of DHFL under the newly approved Insolvency and Bankruptcy Rules for financial services providers

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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

This development comes a day after RBI Governor Shaktikanta Das chaired a high-level meeting with Enforcement Directorate, Mumbai Police, Economic Offences Wing and the administrator of PMC Bank

In an affidavit filed in the HC in response to petitions challenging the fund withdrawal restrictions, the RBI has mentioned the withdrawal ceiling at Rs 50,000 for scenarios like marriage, education, livelihood and \"other hardships\"

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 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.

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

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 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.