-
ALSO READ
RBI increases PMC bank depositors withdrawal limit to Rs 25,000
Mumbai police file FIR in PMC Bank fraud case; ED may initiate probe soon
Crisis-hit PMC Bank used dummy accounts to escape RBI's attention
Huge cash withdrawals seen at crisis-hit PMC Bank ahead of RBI clampdown
PMC Bank doesn't pose a systemic threat but it is a canary in the coal mine
-
The Economic Offences Wing of Mumbai Police on Saturday arrested Waryam Singh, former chairman of Punjab and Maharashtra Cooperative (PMC) Bank, in connection with the alleged Rs 4,355 crore scam at the bank.
This is a fourth arrest in the case.
ALSO READ: Joy Thomas in police custody till Oct 17, lawyers say he's the fall guy
The EOW has already arrested former managing director of PMC Bank Joy Thomas, and promoters of HDIL group Rakesh and Sarang Wadhawan in the case.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor





RECOMMENDED FOR YOU