 "Reserve Bank of India (RBI) Governor Shaktikanta Das at the RBI's fourth Bi-monthly monetary policy review meeting of 2019-20, in Mumbai- KAMLESH PEDNEKAR")
A forensic audit is underway at Punjab and Maharashtra Co-operative (PMC) Bank and the final report is expected by the end of December, said RBI Governor Shaktikanta Das.
Simultaneously, PMC Bank, with the help of professional valuers, is assessing the realisable value of assets that have been mortgaged by companies, which have availed of loans and other assets identified by the economic offences wing of the Mumbai Police and the Enforcement Directorate (ED).
We have also put in place a coordination mechanism among players involved — the bank administrator, ED, Economic Offences Wing, RBI — to monitor the situation regularly and take
