78% of PMC a/c holders can withdraw full deposit: FM



Nirmala Sitharaman said in Lok Sabha that in case of medical emergencies, marriages and other crisis situations, a depositor of the Maharashtra-based PMC Bank can withdraw up to Rs 1 lakh by invoking the ‘hardship provisions’ of the RBI.



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Why home buyers shouldn't drag builders to NCLT



Homebuyers should keep IBC as the last resort; if the delayed project is without encumbrances, they should explore self-development, says Tinesh Bhasin.



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HDIL says enough assets to cover loans from PMC Bank



Crisis-hit HDIL on Tuesday said that loans taken from banks including Punjab and Maharashtra Cooperative Bank were in normal course of business after providing adequate security cover and that it is ready to discuss with the bank to protect the interest of depositors.



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FIR against PMC Bank, HDIL officials filed



Explaining the modus operandi of the case, the FIR said HDIL promoters allegedly colluded with the bank management, to draw loans from the bank’s Bhandup branch. Despite non-payment, the bank officials did not classify the loans as NPA and intentionally hid the information about the same from RBI.



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PMC Bank account-holders go to cops against top brass



A delegation of account-holders went to Sion police station in central Mumbai and submitted the complaint against officials of the bank on which the RBI has imposed operational restrictions. The delegation in its complaint alleged that at least 14 people, including the PMC Bank’s chairman and all its directors, were involved in misappropriation of funds of the account-holders.



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