Tag: PMC Bank crisis

PMC scam: HDIL directors to remain in jail, SC stays Bombay HC’s release order

The Bombay High Court had recently, in an order, allowed the plea of HDIL directors -- Rakesh Wadhawan and Sarang Wadhawan -- to shift them from Arthur Road jail to their residence to enable them to sale their assets.

January 16, 2020

PMC Bank crisis: Man, 83, dies after being unable to withdraw funds for heart surgery; 4th death this week

After finding certain irregularities in the PMC Bank, the Reserve Bank of India (RBI) has barred the bank from carrying out almost all its routine banking activities for six months.

October 19, 2019

Govt obsessed with trying to fix blame on opponents: Manmohan Singh in comeback to FM

The Congress leader's remarks come after Finance Minister Nirmala Sitharaman on Tuesday said the Public Sector Banks had their worst time during economists Manmohan Singh and Raghuram Rajan’s time.

October 17, 2019

Ex-Jet Airways employee with Rs 90 lakhs deposit in PMC Bank, dies hours after protest

Sanjay Gulati went to a protest march held outside a city court on Monday morning and had been under stress because of his deposit being stuck with the bank.

October 15, 2019

Sitharaman meets PMC Bank clients, says will talk to RBI Governor over customers’ distress

The bank has come on the regulatory radar after Housing Development & Infrastructure Ltd and its directors failed to repay a Rs 4,355 crore loan taken from PMC Bank putting the bank under liquidity stress.

October 10, 2019

HDIL promoters, PMC Bank board members charged with money laundering in loan default case

Rakesh Kumar Wadhawan, the Chairman, and Sarang Wadhawan, Managing Director of HDIL were arrested by the Economic Offences Wing (EOW) of the Mumbai Police earlier on Thursday.

October 4, 2019