Closely monitoring situation at PMC Bank, forensic audit underway, says Das

PMC Bank was placed under an RBI administrator on September 23 for six months due to massive under-reporting of dud loans

Reserve Bank Governor Shaktikanta Das on Thursday said it is closely monitoring the situation at scam-hit PMC Bank and a forensic audit is underway.

Punjab & Maharashtra Cooperative Bank (PMC Bank), among the top 10 urban cooperative banks in the country, was placed under an RBI administrator on September 23 for six months due to massive under-reporting of dud loans.

"PMC Bank situation is being closely monitored. Forensic audit is underway in PMC Bank case," Das told reporters after a meeting of the Financial Stability and Development Council (FSDC) here.

RBI had imposed withdrawal restrictions on account-holders after it found