Money & Banking

Recently, the Reserve Bank of India (RBI) had enhanced withdrawal limit to Rs40,000 from Rs25,000 for depositors of Punjab and Maharashtra Cooperative Bank Ltd. (PMC Bank).    However, this amount might still not be sufficient for those who are facing hardships such as medical...
The Supreme Court on Friday refused to entertain plea seeking directions for redressal of certain aspects, including insuring around 15 lakh people whose money is blocked in the scam-hit Punjab & Maharashtra Co-operative Bank (PMC Bank).   A bench headed by Chief Justice Ranjan Gogoi...
Shares of Yes Bank surged in intra-day trade by as much as 17% even as reports emerged that industrialists Sunil Munjal and Sunil Mittal have expressed interest in buying a stake in the private bank. However, Mr Mittal denied the reports later on. A spokesperson for Bharti Enterprises denied...

The failure of Punjab and Maharashtra Cooperative Bank (PMC Bank)—a relatively small multi-state cooperative bank—is a test for the reformist Narendra Modi government. Remember, Modi sarkar has waged a war on cash and wants us to keep our money in banks. The public fell in line, because it...
Mumbai based businessman Dr. Santosh Bagla has sent out a press release on how the Reserve Bank of India (RBI) has asked Kotak Mahindra Bank to examine and redress the grievance within a time-bound manner. Mr Bagla had earlier complained to the Prime Minister’s Office (PMO) about vindictive...

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