Page 3 - Pmc Bank

Centrum gets RBI's in-principle nod to take over PMC Bank via SFB route

Approval given in accordance with the offer made by Centrum to take over the beleaguered Punjab and Maharashtra Cooperative Bank

RBI has given us 120 days to operationalise SFB: Centrum's Jaspal Bindra

In an exclusive interview with Business Standard, Jaspal Bindra, executive chairman of Centrum group said it has committed Rs 1,800 cr capital to the SFB, Rs 900 cr of which will come in first year

Top headlines: Paytm to raise Rs 12,000 crore; Wipro announces salary hike

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PMC depositors allowed to withdraw up to Rs 5 lakh for Covid treatment: RBI

RBI filed a response in Delhi HC, stated that depositors of PMC Bank are already allowed to withdraw up to Rs 5 lakhs on hardship grounds for treatment of terminal illnesses, including Covid treatment

Top headlines: Ruia out of Air India sale race, India to appeal Cairn award

IndiGo, the country's largest airline, is in talks with Airbus to finalise a deal to acquire up to five A321 converted freighters amid a burgeoning air cargo market

PMC Bank suitors face additional capital rider; RBI board meet on March 19

Rs 750 cr needed to enable payout of over Rs 5 lakh per depositor

How to revive PMC Bank

Mired in corruption, politics and with a history of suicides by its hapless depositors, PMC Bank's revival is a challenge very different from Yes Bank and LVB, both for the regulator and the rescuer

Three offers received for PMC Bank resolution: RBI Governor Das

Das said three investors have submitted their offers for reconstruction of crisis-ridden Punjab and Maharashtra Co-operative (PMC) Bank and evaluation for those are underway

Top headlines: BSE firms' m-cap tops Rs 200 trn, RBI's plan to revive PMC

Walmart-owned digital payments firm PhonePe has distributed ESOPs (employee stock ownership plans) worth $200 million among its 2,200 employees. Read top news with Business Standard

How RBI plans to revive PMC Bank through a three-pronged strategy

In a first, DICGC to be roped in to fund revival; RBI to open credit line to tide over liquidity issues; minimum capital from promoter to meet 9% capital adequacy ratio; 3 investors submit final offer

ED arrests two after raids against Maharashtra MLA in PMC Bank fraud case

On Friday, the agency searched five residential and business premises linked to the Viva Group, promoted by Bahujan Vikas Agadhi (BVA) party chief and MLA Hitendra Thakur

PMC Bank case: Enforcement Directorate searches 5 locations in Mumbai

ED on Friday carried out searches at five locations, including the premises of Mehul Thakur

Consider afresh applications seeking money for emergencies: HC to PMC Bank

The court directed PMC bank to decide afresh about the applications of depositors seeking money for the medical and educational emergencies

PMC Bank scam: Shiv Sena MP Sanjay Raut's wife appears before ED

According to the official, Varsha Raut reached the ED office at Ballard Pier in South Mumbai around 3 pm after she was summoned by the central agency

PMC Bank case: ED attaches Rs 72-cr assets of close relative of Sanjay Raut

Varsha Raut skipped the agency's notice thrice and is now expected to join probe before the ED in Mumbai on January 5

PMC bank case: Sanjay Raut's wife skips ED summons, seeks time till Jan 5

Varsha Raut, wife of Shiv Sena leader Sanjay Raut, on Tuesday skipped questioning by the Enforcement Directorate in the over Rs 4,300-crore PMC Bank money laundering case, official sources said. They said she has asked for an adjournment of the latest summons and has sought a fresh date of January 5 for deposing before the central probe agency in Mumbai. It was not immediately clear if the ED has agreed to the request. The ED wants to question Varsha Raut with regard to a transaction of about Rs 55 lakh with the wife of a person who is accused in the PMC Bank alleged fraud case. ED sources had said that it was the third summons issued to her after she skipped two earlier ones on health grounds, they said. The summonses for questioning were issued to her under the provisions of the Prevention of Money Laundering Act (PMLA). Sanjay Raut, while holding a press conference in Mumbai on Monday, had denied any wrongdoing on the part of his wife and said they have been in correspondence

A year after PMC crisis, RBI says NPAs rise in urban co-ops, losses soar

Earlier this year, the government amended the Banking Regulation Act to give the RBI complete regulatory and supervisory power over such lenders

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PMC Bank fraud: ED summons Sanjay Raut's wife for questioning on Dec 29

The ED has summoned Varsha Raut, wife of Shiv Sena MP Sanjay Raut, for questioning in the PMC Bank money laundering case on December 29, officials said on Sunday

Top headlines: Centrum-BharatPe in race for PMC bank; Jio preps 5G infra

From Centrum-BharatPe, Liberty group in the race for beleaguered PMC Bank to Amazon enabling digitisation of over 1 million small businesses, here are top headlines this morning