The Reserve Bank of India (RBI) expects resolution plans for Mumbai-based Punjab and Maharashtra Co-operative (PMC) Bank soon as initial response from investors have been positive.   At the post MPC meeting conference, RBI Governor Shaktikanta Das said that response to...
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The Reserve Bank of India (RBI) has appointed AK Dixit, former general manager at Union Bank of India, as the new administrator of Punjab and Maharashtra Cooperative (PMC) Bank.   He will replace JB Bhoria, who, RBI says, is stepping down due to health reasons.   In a release,...
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The Reserve Bank of India (RBI) on Friday doubled the withdrawal limit for Punjab and Maharashtra Cooperative Bank's depositors to Rs 100,000 from Rs 50,000 earlier.   With this relaxation, the RBI said that more than 84 per cent of the depositors of the bank will be able to withdraw...
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The Mumbai Police Economic Offences Wing (EOW) has arrested a former director of Punjab and Maharashtra Cooperative (PMC) Bank and two of its valuers in connection with the ongoing probe into the Rs 4,355-crore scam, an official said here on Thursday.   Those arrested are Jasvinder S....
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Having run out of options and with their pleas to the government, regulators and courts being ignored, depositors of the crisis-hit Punjab and Maharashtra Cooperative (PMC) Bank are now planning to fast for their rights.    So far, the government has remained indifferent to every plea...
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