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PMC Bank depositors protest against the bank in New Delhi on 23 September 2020. | Photo: ANI

Hope for troubled PMC Bank as 4 entities show interest in acquiring it

PMC Bank, put under restrictions in September 2019, had invited expressions of interest in November, and 4 entities — financial sector players and corporates — have come forward.
Depositors affected by the PMC Bank scam had demonstrated in front of the Reserve Bank of India in 2019 | File photo: PTI

Delhi HC pulls up RBI for letting PMC Bank decide on depositors’ emergency money requests

The court said the RBI cannot act as a post office and has to be the one deciding which depositors can access money, and not PMC Bank.
Interior designer Anvay Naik and his mother Kumud died by suicide in 2018, and Republic TV chief Arnab Goswami is among those accussed of abetting it | Image: ThePrint Team

Mumbai designer’s financial distress began before Arnab Goswami’s office contract

A selection of the best news reports, analysis and opinions published by ThePrint this week.
Police personnel stand guard outside Punjab and Maharashtra Cooperative Bank (PMC) at GTB Nagar in Mumbai | PTI file photo

Ray of hope for PMC Bank revival as investors show interest

Potential investors will have the option to convert PMC Bank into a small finance bank provided they meet the RBI’s licensing conditions.
PMC Bank depositors protest against the bank in New Delhi on 23 September 2020. | Photo: ANI

Net worth wiped out, withdrawal restrictions, no resolution — PMC Bank’s worse off 1 year on

RBI’s process to fix the bank hasn’t yielded any results. The bank’s net worth is wiped out and its depositors are struggling with restrictions on withdrawal.
PMC bank account holders protest over the bank's crisis outside the RBI building in New Delhi on 19 August | ANI Photo

ED attaches 3 Delhi hotels worth Rs 100 crore in PMC Bank case

The hotels belonged to the Fab Hotels group. Last year, ED filed a PMLA case to probe into alleged loan fraud in the Punjab and Maharashtra Co-operative Bank.
Finance Minister Nirmala Sitharaman speaks in Parliament | Photo: ANI

Lok Sabha passes Bill giving RBI more power over co-op banks, to avoid PMC Bank-like situation

Finance Minister Nirmala Sitharaman said the Bill would protect depositors, but some opposition parties said the legislation would infringe on state powers.
Customers gather inside the Punjab and Maharashtra Cooperative Bank, at Kolshet in Thane

Shiv Sena leader seeks merger of ailing PMC Bank to provide relief to depositors

Raising the issue in the Maharashtra Legislative Assembly, Shiv Sena leader Ravindra Waikar claimed 19 depositors of the bank have died ever since the scam came to light in September this year.
PMC Bank customers stage a protest outside the Killa Court, where the accused of the bank scam were being produced, in Mumbai, Monday, 14 October, 2019. | PTI

PMC bank depositors protest in Mumbai, want restrictions on cash withdrawal lifted

The bank had initially capped the deposit withdrawal at Rs 10,000 but later raised it to Rs 40,000.
ram mandir

Dinamani calls out FM & RBI on PMC, Dainik Bhaskar doubts Ayodhya mediation

A round up of the Hindi and Tamil newspapers opinion pages to reflect a North-South viewpoint on topical issues.

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