The suspended managing director of Punjab and Maharashtra Cooperative (PMC) Bank, Joy Thomas, has blamed the auditors for the mess at the bank, accusing them of
Category: RBI–Banks
Real interest rate dynamics: Who can help? | Business Standard Column
Availability and cost of funds are both key drivers of economic growth. The role of India’s financial sector in achieving the $5 trillion economy target
The way forward for public sector banks | Business Standard Column
A release from the Press Information Bureau on June 24, titled “Public Sector Banks”, had this to say on strengthening PSBs: “Over the last four
PMC crisis: Ex-MD reveals how six officials pulled off Rs 6,500 crore fraud at PMC Bank – The Economic Times
Thomas’ confession letter to RBI revealed that the bank’s exposure to bankrupt HDIL was pegged at Rs 6,500 crore, which is over 70% of the
Gross NPAs of banks may fall to 8% by March 2020: Report – The Economic Times
The Indian banking system’s stock of dud assets will further reduce to up to 8 per cent level by March 2020, but the NBFCs may
The RBI must bat for conversion of co-operative banks into more regulated entities – The Hindu BusinessLine
The RBI also needs to be more transparent about its strictures on co-operative banks Just as they were coming to terms with the bad loan
All you wanted to know about… Urban Co-operative banks – The Hindu BusinessLine
The Reserve Bank of India’s sudden direction last week capping withdrawals from Punjab and Maharashtra Co-operative (PMC) Bank has dealt a severe shock to many
View: It’s time to reform India’s cooperative banks – The Economic Times
Depositors of private sector banks, which have been as dodgy as PMCBs, were hurt when these banks faced sudden death. A rogue stock broker, with
Now Union Bank of India links interest rate for MSME loans to RBI’s repo rate, effective from October 1 – The Financial Express
Credit and Finance for MSMEs: PSU bank Union Bank of India has joined the growing list of lenders linking their new floating-rate MSME and retail loans
RBI’s June 7 circular raises NPA woes for merging public sector banks | Business Standard News
The Reserve Bank of India’s (RBI’s) June 7 circular is turning out to be a concern for state-run banks whose mergers have been announced, given the strict
PMC’s HDIL loan at Rs 6,500 crore, or 73 percent of total loan book: Ex-MD Thomas in letter to RBI – The Economic Times
The now-suspended managing director of the crisis-hit Punjab and Maharashtra Cooperative Bank (PMC), Joy Thomas, has reportedly admitted to the RBI that the bank’s actual exposure to the bankrupt HDIL
Why be prejudiced against loan melas? – The Hindu BusinessLine
The institutional reasons for their failure no longer exist. Besides, banks are better at achieving social goals than microfinance Loans and melas are of different genres. While
Plea for probe into alleged funds misappropriation by Indiabulls; HC asks Centre, RBI to reply – The Economic Times
The Delhi High Court on Friday decided to examine the allegations, in a PIL by an NGO, of financial irregularities, siphoning of funds and other violations against
Delhi police slap FIR on Singh brothers over ₹723-cr loan from LVB – The Hindu BusinessLine
A ₹723-crore loan by Laxmi Vilas Bank (LVB) to the brothers Shivinder and Malvinder Singh, the erstwhile promoters of Ranbaxy and Fortis Group, is now
NSDL Payments Bank set to start operations – The Hindu BusinessLine
NSDL Payments Bank Ltd (NPBL), the wholly-owned subsidiary of National Securities Depository Ltd (NSDL), is expecting to start its commercial operations shortly. NSDL was one
Economy will bounce back in second half with festival season: Nirmala Sitharaman – The Hindu BusinessLine
Says there’s no liquidity concern among private banks, NBFCs Asserting that consumption is happening and demand will come back, Finance Minister Nirmala Sitharaman on Thursday
PMC Bank chairman Waryam Singh’s connection with HDIL runs deep | Business Standard News
S Waryam Singh, chairman of Punjab & Maharashtra Co-operative Bank (PMC Bank), held 1.91 per cent in real estate company Housing Development & Infrastructure (HDIL)
Loan melas: A blast from the past – The Hindu BusinessLine
The Centre’s direction on shamiana-like forums to disburse loans is reminscent of the past. But can banks handle the burden? Being a public sector banker
Regulate cooperative banks like other banks–Economic Times
The Reserve Bank of India’s (RBI) move to impose curbs on lending and withdrawals in Punjab and Maharashtra Cooperative Bank reportedly due to under-reporting of
Strengthen cooperative banks | Business Standard Editorials
The Reserve Bank of India (RBI) on Tuesday placed the Punjab and Maharashtra Co-operative Bank (PMC) under “directions”. Consequently, cash withdrawals have been capped at
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