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...
One more depositor, Sanjay Gulati, whose family have about Rs90 lakh stuck in the fraud-hit Punjab and Maharashtra Cooperative (PMC) Bank, died on Monday due to to cardiac arrest soon after returning home from a protest against the bank at Killa Court in Mumbai. Irony is he first lost his job...
The Reserve Bank of India (RBI) on Monday enhanced withdrawal limit to Rs40,000 from Rs25000 for depositors, of Punjab and Maharashtra Cooperative Bank Ltd (PMC Bank).   "...after reviewing the PMC Bank’s liquidity position and its ability to pay its depositors has decided to further...

The Enforcement Directorate (ED) on Monday seized and identified movable and immovable assets worth more than Rs3,830 Crores owned by Housing Development and Infrastructure Ltd (HDIL), the company directors and promoters, as well as official of Punjab and Maharashtra Cooperative (PMC) Bank...
Joy Thomas, former managing director (MD) of Punjab and Maharashtra Cooperative (PMC) Bank converted to become Junaid Khan and married to his personal assistant (PA), whom he allegedly gifted some properties in Pune, say reports.   The former PMC Bank MD made an admission before the...

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