Page 5 - Pmc Bank

It may be time to change the way UCBs and NBFCs raise retail deposits

It may be time to link the higher deposit insurance cover and the way co-operative banks and select non-banks raise retail resources, writes Raghu Mohan

Stark regulatory approach: Bailout for YES Bank; nothing for PMC Bank

It is tough if you are a PMC Bank depositor to be made aware now that you are not mainstream enough

RBI extends curbs on PMC Bank by 3 months as it works on revival plan

RBI has been talking to other authorities on sale of securities and loan recovery; Unlike in commercial banks, it has no powers to evolve an enforceable reconstruction plan for a co-op bank

RBI extends regulatory restrictions on PMC Bank by 3 months till June

The RBI had put a six-month regulatory restriction on the bank on September 23, 2019

PMC Bank scam: Mumbai Police arrests former director, two others

Jasvinder Singh Banwait, Vishwanatha Shridhar Prabhu and Shripad Govind Jere were arrested on Thursday

YES Bank crisis: Paying loan? Shift ECS mandate to a nationalised bank

If you are paying a personal/home loan or doing SIPs, shift ECS mandate to another bank. It just might make sense to have one account with a nationalised bank

Congress asks Modi to explain 'sinking banks', not divert attention

"Prime Minister, you need to tell the nation what is the BJP's connection to the Yes Bank and its owner," Randeep Surjewala asked.

Moratorium on YES Bank is credit negative, highlights uncertainty: Moody's

YES Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment

Private lenders faced tough times due to poor corporate governance, NPAs

Way back in 2004, the crisis-ridden Global Trust Bank was merged with the Oriental Bank of Commerce by the Reserve Bank of India

FM Sitharaman introduces bill that aims to prevent a PMC Bank-like crisis

The Banking Regulation (Amendment) Bill, 2020, which comes in the backdrop of PMC Bank scam, seeks to strengthen co-operative banks by increasing professionalism and ensuring sound banking through RBI

Bill to avert PMC Bank-like crisis may get Parliament nod in Budget session

In a bid to address weaknesses in cooperative banking sector, the Parliament is likely to clear a Bill to amend Banking Regulation Act to bring multi-state cooperative banks under effective regulation of RBI during the Budget session. The proposed legislation will help prevent a repeat of Punjab and Maharashtra Cooperative Bank-like crisis, sources said. There are 1,540 cooperative banks with a depositor base of 8.60 crore having total savings of about Rs 5 lakh crore. The Union Cabinet headed by Prime Minister Narendra Modi last month gave approval to amend Banking Regulation Act. The Bill in this regard is likely to be passed during the second leg of Budget session starting Monday. The session ends on April 3. Having undertaken a slew of measures, including clean up of public sector banks (PSBs), private sector banks, financial institution like IL&FS, non-bank financial corporations (NBFCs), housing finance corporations (HFCs), auditors, rating agencies, this is the last step in

Double trouble: PMC Bank asked to deduct TDS on notional interest paid

CBDT asks lender to deduct tax at source on notional interest paid

SC stays Bombay HC order to sell HDIL assets and repay PMC bank dues

A bench comprising Chief Justice S A Bobe and justices B R Gavai and Surya Kant took note of the appeal of the Reserve Bank of India against the Bombay High Court order

Top headlines: WhatsApp Pay set for phased roll out in India, SBI cuts MCLR

From WhatsApp Pay's phased roll out in India to PhonePe's plans of creating world's biggest ATM network in India, here are the day's top headlines

Hike in deposit insurance cover will not hit banks' balance-sheets: RBI

The Reserve Bank does not see any major impact on the balance-sheets of banks due to the five-fold hike in deposit insurance to Rs 5 lakh. Following the failure of a number of cooperative banks, with the city-based PMC Bank being the latest and the largest last year, the budget allowed the Deposit Insurance and Credit Guarantee Corporation (DICGC) to raise deposit insurance coverage to Rs 5 lakh from Rs 1 lakh. "The premium is something, which we consider, will increase from 10 paise to 12 paisa per Rs 100 for the time being. So, the impact on banks' balance sheets is not likely to be much," RBI Deputy Governor B P Kanungo told reporters during the post-policy presser. The hike in deposit insurance coverage has been a long pending demand from bank depositors and it recently came to fore after the crisis at Punjab & Maharashtra Cooperative (PMC) Bank. It can be noted that in 2019 alone more than 30 cooperative banks went belly up in Maharashtra alone. The DICGC, a wholly-owned ...

To avoid PMC-like crises, Cabinet approves banking regulation amendment law

The Union Cabinet was chaired by Prime Minister Narendra Modi

Cabinet okays changes to bank laws to avoid repeat of PMC Bank-like crises

There are 1,540 cooperative banks with depositor base of 86 million having total savings of about Rs 5 trillion

PMC Bank scam: No relief for Wadhawans as SC stays HC order on house arrest

The high court had set up a three-member committee for valuating and sale of encumbered assets of HDIL to expeditiously recover dues payable by the firm to PMC bank

Top Headlines: Amazon to invest $1 bn in Indian SMBs, Airtel $3-bn QIP plan

Bharti Airtel has announced allotment of 323.5 mn equity shares to eligible institutional buyers at an issue price of Rs 445 per share as part of $2 billion QIP

PMC Bank crisis: Bombay HC forms committee to auction HDIL assets

The Wadhawans shall help the committee in valuation of HDIL's encumbered properties, the court said