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PMC Bank

PMC Bank crisis: RBI raises withdrawal limit for account holders to Rs 50,000

Reserve Bank of India (RBI) on Tuesday enhanced withdrawal limit for depositors of Punjab and Maharashtra Cooperative (PMC) Bank Ltd to Rs 50,000. Earlier on October 14, the central bank had permitted the depositors of PMC Bank to withdraw up to Rs 40,000 of the total balance in their accounts.

Nov 05, 2019, 18:42 PM IST

Employees' money in Uttar Pradesh invested in Mirchi-linked firm of Wadhawans

Uttar Pradesh government has initiated a vigilance probe into the matter. He further said that General Manager of the Power Sector Employees Trust, P.K. Gupta has been suspended, said, Principal Secretary (Energy) Alok Kumar.

Nov 02, 2019, 08:42 AM IST

Another PMC Bank depositor dies in Mumbai

Sixty-eight -year-old Keshmul Hinduja was admitted to hospital after he complained of chest pain on October 29. He died of a heart attack the next day, his daughter said. She also claimed that Hinduja did not have any ailment and used to run a grocery shop in Mumbai's Mulund area. However, after the PMC Bank scam came into light, he was under stress. 

Oct 31, 2019, 15:00 PM IST

On Dhanteras, women depositors of scam-hit PMC Bank hold protest in Mumbai

Several women depositors of crisis-hit Punjab and Maharashtra Co-operative (PMC) Bank on Friday staged a protest in West Mumbai's Andheri. The women protestors raised slogans carrying placards which read "Where is the money on Dhanteras" and "Black Diwali, Thank you RBI".

Oct 25, 2019, 13:38 PM IST

PMC Bank customers can now withdraw up to Rs 1 lakh in case of medical emergency

The PMC Bank account holders have also been allowed to withdraw Rs 50,000 extra for marriage, education and expenses related to senior citizens. BJP Maharashtra unit vice-president Kirit Somaiya also tweeted about the enhanced withdrawal limit on Wednesday.

Oct 23, 2019, 12:40 PM IST

PMC Bank scam: 80-year-old depositor dies after being unable to withdraw money for heart surgery

The victim, identified as Murlidhar Dhara, was a resident of Mulund Colony in Mumbai. He was suffering from a heart-related ailment for a long time and was to undergo bypass surgery.

Oct 19, 2019, 10:34 AM IST

Supreme Court refuses to entertain plea by PMC Bank account holders for lifting cash withdrawal restrictions

A bench of Chief Justice Ranjan Gogoi and Justices SA Bobde and S Abdul Nazeer told the petitioners that they may approach the concerned High Court for relief.

Oct 18, 2019, 13:26 PM IST

Former Punjab and Maharashtra Cooperative Bank director Surjit Singh Arora arrested by Mumbai Police

Surjit Singh Arora is the owner of Mini Punjab and he was associated with PMC Bank for over 10 years. 

Oct 16, 2019, 20:05 PM IST

PMC Bank case: Waryam Singh, Rakesh and Sarang Wadhawan's police custody extended till October 23

Hundreds of PMC Bank account holders staged a protest in front of Mumbai's Esplanade Court where the trio was produced as their police custody ended on Wednesday, and demanded that their money be returned at the earliest. Protestors also observed a two-minutes silence expressing grief over the death of two PMC bank account holders on Tuesday. 

Oct 16, 2019, 12:30 PM IST

Kashmir, Haryana and Maharashtra Assembly polls, Sardar Patel, Uniform Civil Code: Union Home Minister Amit Shah answers all in exclusive interview

Union Home Minister Amit Shah said that former chief ministers Farooq Abdullah, Omar Abdullah and Mehbooba Mufti are in detention to maintain law and order in Kashmir valley and security agencies will take a call on releasing them after reviewing the situation.

Oct 15, 2019, 23:46 PM IST

Another Punjab and Maharashtra Cooperative Bank customer dies in Mumbai, second death in less than 24 hours

Sources said that Fattomal Punjabi had participated in protests in the last few days and was facing trouble because of the curbs imposed by the Reserve Bank of India on withdrawing money from the bank.

Oct 15, 2019, 16:48 PM IST

PMC Bank Scam: Sanjay Gulati, a PMC bank depositor passed away

Sanjay Gulati, Account holder at the PMC bank, who had over 90 lakh deposited, died in Mumbai.

Oct 15, 2019, 13:06 PM IST

Unable to withdraw money, PMC Bank customer suffers cardiac arrest and dies

The deceased, Sanjay Gulati was under a lot of stress after the Punjab and Maharashtra Cooperative (PMC) Bank scam came to light, according to his family members. He was listed as a large depositor with the bank and had almost Rs 80 lakh in four accounts.

Oct 15, 2019, 11:30 AM IST

PMC Bank scam: Ex-chairman Wariyam Singh owns properties worth several crores

Former chairman of PMC Bank Wariyam Singh, who is currently in police custody, has bought a plot of land worth Rs 2,500 in Mumbai's posh Juhu area using depositor's money.

Oct 14, 2019, 23:08 PM IST

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Oct 14, 2019, 21:22 PM IST

RBI hikes withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank to Rs 40,000

The RBI said in a press release that it has decided to hike the withdrawal limit from Rs 25,000 to Rs 40,000 after reviewing the bank’s liquidity position and its ability to pay its depositors.

Oct 14, 2019, 19:12 PM IST

Punjab and Maharashtra Co-operative Bank scam: Nirmala Sitharaman speaks to RBI governor, assures customers of full support

On Wednesday (September 9), Sitharaman had said at a press conference that Finance Ministry has no direct involvement in the PMC Bank case because it is a cooperative bank and RBI is the regulator for cooperative banks, including the PMC Bank.

Oct 13, 2019, 06:39 AM IST

Nirmala Sitharaman meets PMC Bank depositors, says action will be taken

Finance Minister Nirmala Sitharaman meets PMC Bank depositors and assured that action will be taken.

Oct 11, 2019, 07:48 AM IST

Rs 100 crore deposit of Gurdwaras locked in fraud-hit PMC Bank

The Gurdwaras, which have their accounts with PMC Bank, are agitated with RBI's curb in withdrawing money from the bank.

Oct 07, 2019, 12:37 PM IST

Joy Thomas, former MD of PMC bank, arrested by Mumbai Police's Economic Offence Wing

The Mumbai Police's Economic Offence Wing (EOW) on Friday arrested Joy Thomas, the former managing director (MD) of the Punjab and Maharashtra Cooperative (PMC) Bank, in the ongoing scam case. On September 28, the suspended MD had admitted that the bank did not report the financial exposure to the Reserve Bank of India (RBI) for over six years. 

Oct 04, 2019, 18:58 PM IST