Page 3 - Latest Updates on PMC Bank Crisis
Wadhawans, Waryam Singh instructed me to hide bad debt, says Joy Thomas
However, when the accused came face to face, they shifted the onus of their acts onto each other, revealed the remand extension application given by the EOW in a Mumbai court on Monday
 "Wadhawans, Waryam Singh instructed me to hide bad debt, says Joy Thomas")
Fadnavis assures PMC bank depositors to ease woes with Centre's help
Fadnavis pointed out that the Mumbai police's Economic Offences Wing (EOW) had lodged a complaint and was probing the issue
 "Fadnavis assures PMC bank depositors to ease woes with Centre's help")
Mumbai resident who had Rs 90 lakh with PMC Bank dies of heart attack
Sanjay Gulati, the deceased, had lost his job at Jet Airways when the airline was grounded in April, his famly said. He also had a specially-abled child to support
 "Mumbai resident who had Rs 90 lakh with PMC Bank dies of heart attack")
ED summons Praful Patel on Oct 18 for probe in money laundering case
The Enforcement Directorate (ED) is expected to record Patel's statement under the Prevention of Money Laundering Act
 "ED summons Praful Patel on Oct 18 for probe in money laundering case")
Top headlines: Wipro Q2 beats estimates, oil firms put Air India on notice
Also in the news on Tuesday: Reliance Jio blasts telecom regulator for its proposal on call connect charges.
 "Top headlines: Wipro Q2 beats estimates, oil firms put Air India on notice")
PMC Bank depositor commits suicide, another dies of heart attack
Dr Nivedita Bijlani (39), who allegedly ended life on Monday evening, and Sanjay Gulati (51) who died of a heart attack on the same day, had deposits of over Rs 90 lakh each
 "PMC Bank depositor commits suicide, another dies of heart attack")
PMC Bank case: Praful Patel used Wadhawans' aircraft eight times, says ED
So far, the ED has attached and identified assets worth Rs 3,830 crore in the PMC money laundering case
 "PMC Bank case: Praful Patel used Wadhawans' aircraft eight times, says ED")
PMC Bank scam: ED to attach HDIL promoters' plush Alibaug property
The bungalow is spread across 2.5 acres; valuation being assessed
 "PMC Bank scam: ED to attach HDIL promoters' plush Alibaug property")
PMC Bank crisis: It's time to massively increase depositor insurance
The PMC crisis has brought to the fore the need to increase the deposit insurance coverage provided by the DICGC.
 "PMC Bank crisis: It's time to massively increase depositor insurance")
The mess called cooperative banks
Either co-operative banks or their depositors should be required to buy commercially priced deposit insurance above the level insured by the statutory cover
PMC crisis calls for board of management in urban cooperative banks
The idea - seconded by the R Gandhi committee on UCBs in 2015 - behind this was to cut through the legal bureaucracy and tap dance around dual regulation
 "PMC crisis calls for board of management in urban cooperative banks")
PMC Bank crisis: Financial sector needs governance rehaul, says S&P
The RBI has appointed an administrator and superseded the board of directors at PMC, after the discovery of major financial irregularities
PMC Bank crisis: Ministry of Corporate Affairs to inspect books of HDIL
The ministry will study the books of account, related-party transactions and filings of the company
PMC Bank's suspended MD Joy Thomas blames 'superficial auditing' for mess
In the past eight years, PMC had three statutory auditors -- Lakdawal & Co (FY19 and FY18); Ashok Jayesh & Associates (FY17, FY15, and FY11) and DB Ketkar & Co (FY14 and FY12)
ICAI to check role of auditors in PMC bank financial irregularities
The Institute of Chartered Accountants of India has written to the Vigilance Department of the RBI and the Commissioner of Maharashtra Co-operative Societies
 "ICAI to check role of auditors in PMC bank financial irregularities")
Monetary policy review: PMC fallout adds to RBI's woes ahead of rate cut
The latest trouble in the banking system may further hurt lending in an industry still grappling with the fallout from the collapse of a major shadow lender last year
 "Monetary policy review: PMC fallout adds to RBI's woes ahead of rate cut")
HDIL directors Sarang Wadhawan, Rakesh Wadhawan arrested in PMC Bank case
Properties worth around Rs 3,500 crore, belonging to HDIL, have also been frozen by the EOW
RBI increases PMC bank depositors withdrawal limit to Rs 25,000
This is the second time the regulator has increased the withdrawal limits since its clamped down on the bank on September 23
 "RBI increases PMC bank depositors withdrawal limit to Rs 25,000")
Wadhwans sent to police custody till October 9 in PMC Bank scam
They were arrested by the special investigation team (SIT) of the Economic Offences Wing (EOW) of Mumbai Police on Thursday and produced before a local court on Friday
 "Wadhwans sent to police custody till October 9 in PMC Bank scam")
PMC Bank scam: EOW arrests HDIL's Rakesh Wadhawan, Sarang Wadhawan
ED registers money laundering case in PMC Bank loan fraud
 "PMC Bank scam: EOW arrests HDIL's Rakesh Wadhawan, Sarang Wadhawan")
