Stock Market Updates Today: Sectorally, except for IT and pharma index, all the other indices ended with decent gains. Private, PSU Bank and financial indices closed 3% higher today.

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

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

PM Narendra Modi's office has proposed waiving a tax on coal to help finance pollution-curbing equipment, according to documents, but the move would also make coal more competitive in price. The government has allowed Huawei, along with all other equipment manufacturers, to conduct super-fast speed 5G network trials in India. Internet shutdowns in various parts of the country may have hit e-commerce like Amazon and Flipkart hard. This and other news on News Blast.

The finance minister added that in case of marriages, medical emergencies, and other crisis situations, a depositor of the bank can withdraw up to Rs 1 lakh by invoking the 'hardship provisions' of the RBI

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

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

FM Nirmala Sitharaman stated that she has talked to RBI Governor Shaktikanta Das who assured that the concerns of PMC Bank account holders will be kept on top priority

This BusinessToday.In 'Graphicle' looks at how PMC Bank officials and HDIL promoters conducted a Rs 4,635-crore scam

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

PMC bank officials allegedly created 44 hidden accounts with fake credentials to help HDIL; loans given to HDIL later turned into NPAs, leading to its bankruptcy and PMC's exposure of thousands of crores

As per DICGC website, all commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by the DICGC

If the RBI is satisfied with progress that the bank can get back to shape in a short period, it will free the bank from its clutches