Wadhawan, an accused in the Rs 4,335 crore scam, had earlier asked for bail claiming he had not violated any banking regulations

With the relaxation in withdrawal limit, more than 84 per cent of the PMC Bank's depositors will be able to withdraw their entire account balance

The restriction on Punjab and Maharashtra Cooperative (PMC) Bank included barring the bank from lending and accepting fresh deposits

Yes Bank needs between Rs 20,000 - 22,000 crore to revive. SBI's risks will be ring-fenced with maximum exposure of Rs 10,000 crore. Yes Bank will not be merged with SBI but will remain an associate bank

To allay the fears of the YES Bank depositors, RBI Governor Shaktikanta Das says the YES Bank revival process will be done \"very swiftly, very fast\"

Despite higher limits, the outstanding deposits of the bank have reduced from around Rs 11,800 crore in September, when the RBI took charge of the bank, to Rs 10,800 crore by November-end

Replying to an RTI query, the RBI says preliminary findings of the RBI indicated large-scale irregularities in the bank, warranting supersession of its board of directors and imposition of all inclusive directions of the Banking Regulation Act, 1949

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

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

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

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

Joy Thomas says the bank didn't report the matter to the RBI even though repayment from HDIL was irregular for the past three-four years because it held security, which was worth twice the loan amount

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.

These violations include financial irregularities, failure of internal control and systems and under-reporting of its (lending) exposure

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.

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