PMC-BANK
Newer revelations on the Punjab and Maharashtra Cooperative Bank (PMC Bank) and releated entities continue to surprise depositors and investor

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Moneylife Digital Team 01 October 2019
While lot have been said about the cosy relations shared by the Wadhwan family and Housing Development and Infrastructure Ltd (HDIL) with the Punjab and Maharashtra Cooperative (PMC) Bank, a confession letter by the bank's former managing director, exposes poor standards applied by the Reserve Bank of India (RBI) during bank inspections.

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IANS 01 October 2019
The Economic Offences Wing (EoW) of Mumbai Police has registered an FIR against senior officials of Housing Development and Infrastructure Ltd (HDIL) and Punjab and Maharashtra Cooperative (PMC) Bank over allegedly causing losses to the tune of Rs 4,355.43 crore to the bank.

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Moneylife Digital Team 30 September 2019
The loan irregularities at the Punjab and Maharashtra Co-operative (PMC) Bank raises questions on the roles of regulator (RBI), auditor, independent directors and bank directors, Minister of State for Finance Anurag Thakur said on Monday and added that the government will look into all the areas because eventually it is going to impact the common man.

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Moneylife Digital Team 30 September 2019
Following the delayed action by Reserve Bank of India (RBI), more skeletons are coming out of the closets from Punjab and Maharashtra Cooperative (PMC) Bank

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The failure of Punjab and Maharashtra Cooperative Bank (PMC Bank) had led to the usual clamour to increase the extent of deposits that are insured by the Deposit Insurance & Credit Guarantee Corporations (DICGC).

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Moneylife Digital Team 26 September 2019
After facing a backlash from disgruntled customers and social media, the Reserve Bank of India (RBI) on Thursday increased the withdrawal limit to Rs10000 from Rs1000 for customers of Punjab and Maharashtra Co-operative (PMC) Bank.

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Moneylife Digital Team 26 September 2019
The Reserve Bank of India (RBI)'s harsh restrictions on Punjab & Maharashtra Co-operative (PMC) Bank have hit hundreds of co-operative housing societies (CHS) very hard.

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More evidence spills out about the deep involvement of the Wadhwan group in Punjab and Maharashtra Coop Bank (PMC Bank) which has been put under a strict freeze by the Reserve Bank of India (RBI) triggering panic and chaos among depositors since 23rd September.

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The main reason why the Punjab and Maharashtra Cooperative (PMC) Bank is in deep trouble is because the bankrupt Housing Development and Infrastructure Ltd (HDIL) (tottering Dewan Housing Finance Ltd-DHFL is also of the same promoter group) had a finger in the Bank. It was not a case of one bad lending.

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Moneylife Digital Team 25 September 2019
The restrictions imposed on PMC Bank by Reserve Bank of India (RBI) is bringing out more details about the dealings of the lender with shady corporations, which may have been at the behest of the promoter group of the bank.

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 and   Sucheta Dalal 25 September 2019
On Tuesday morning (24th September), depositors of Punjab and Maharashtra Cooperative Bank (PMC Bank) woke up to news that they can only withdraw Rs1000 from their accounts in the next six months

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Moneylife Digital Team 24 September 2019
In a move that has caused panic among depositors, the Reserve Bank of India (RBI) on Tuesday imposed strict restrictions on the Mumbai based, Punjab & Maharashtra Cooperative Bank Ltd (PMC).

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