The Reserve Bank of India (RBI) has virtually admitted that it was 'cheated' by the management of the scam-hit Punjab & Maharashtra Cooperative (PMC) Bank.   Especially, RBI says PMC Bank had submitted fraudulently manipulated data to the central bank for sample checks, but the sample...
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The preliminary forensic audit report of Punjab and Maharashtra Cooperative Bank (PMC Bank) submitted by Grant Thornton, a leading auditor firm commissioned by the Reserve Bank of India (RBI), exposes rampant violation of loan sanctioning norms by the Bank. The economic offences wing (EOW) of...
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The Economic Offences Wing (EOW) of Mumbai police is conducting a search at the residence of Rajneet Singh, former director of Punjab and Maharashtra Cooperative (PMC) Bank. On Sunday, the Esplanade Court granted the police his custody till 25th November, following which the EOW carried out...
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On the very day that the Reserve Bank of India (RBI) has to file an affidavit in response to a notice by the Bombay High Court, the management of fraud-hit Punjab and Maharashtra Cooperative Bank (PMC Bank) has sent emails to staff depositors seeking a declaration that they will not withdraw...
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The economic offences wing (EOW) of Mumbai police has arrested Jayesh Sanghani and Ketan Lakdawala, the two auditors who did the statutory audit of fraud-hit Punjab and Maharashtra Cooperative Bank (PMC Bank).    In a statement, the police says, "Jayesh Dhirajlal Sanghani and Ketan...
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