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The Mumbai Police will investigate how the Reserve Bank of India audit missed various irregularities in the PMC bank transactions, the metropolis police chief said on Wednesday. (Representational Image)

Omission of irregularities in PMC bank working will be probed: Mumbai police

In this case, the loans were not shown in the name of HDIL but were shown in the accounts of different names.

17 Oct 2019 8:59 AM

A depositor of the troubled Punjab and Maharashtra Co-operative (PMC) Bank died of a cardiac arrest on Tuesday due to stress, his family in Mumbai has said. (Photo: ANI)

Another PMC Bank depositer dies of heart attack, family says he was under stress

Fattomal Punjabi is reportedly the second customer of PMC Bank to die in less than 24 hours.

16 Oct 2019 9:00 AM

Sanjay Gulati, a resident of suburban Oshiwara, went to a protest march held outside a city court on Monday morning and had been under stress because of his deposit being stuck, said Manali Narkar, who was among the agitating depositors. (Photo: Twitter)

Ex-Jet Airways employee with Rs 90L in PMC Bank dies of heart attack after protest

According to reports in a section of media, Gulati lost his job after the grounding of Jet Airways and is survived by a specially-abled son.

15 Oct 2019 12:17 PM

Headline consumer price index inflation likely jumped in September on the back of a surge in onion prices. But that will hardly bring tears to the eyes of the RBI, as it is likely to have stayed below the 4.0 per cent target, said Shilan Shah, senior India economist at Capital Economics.

Inflation increased in September but won't 'bring tears' to RBI: Report

If the consensus is right, inflation will come in below the RBI’s medium-term target for 14 months in a row.

10 Oct 2019 3:31 PM

The extension is effective from October 10 October to April 9 next year. (Photo: ANI)

RBI extends Chhibber's term as J&K Bank's interim CMD for 6 months

Chibber took over the bank's reins for three months in June following the removal of Parvez Ahmed from the post by the state govt.

09 Oct 2019 12:09 PM

Yes Bank chief Ravneet Gill said the new investor/s will be either a strategic partner like a tech company, or a financial investor or a deep-pocketed family office.

Yes Bank shares jump over 4 per cent on fresh investment buzz

Shares of the private sector lender rose 4.15 per cent to Rs 43.85 on the BSE.

07 Oct 2019 12:28 PM

Investigators have said that the PMC Bank officials misled the RBI for over a decade from 2008 to August 2019. The fictitious loan accounts created for HDIL were not entered into the bank's core banking system. (Photo: PTI)

Former MD of PMC Bank arrested in Rs 6500 crore fraud

The agency conducted searches at six places in Mumbai and neighbouring areas linked to the former chairman of the bank, promoters of HDIL.

04 Oct 2019 8:10 PM

The repo rate cut is aimed at pushing consumption up during the ongoing festival season by reducing borrowing costs for home and auto loans, which are now directly linked to this benchmark.

Loans to become cheaper after RBI cuts interest rate to a decade low

RBI will continue accommodative stance as long as it is necessary and growth revives, said RBI Gov Shaktikanta Das.

04 Oct 2019 4:11 PM

Last month, the RBI central board had given its nod to transfer Rs 1,76,051 crore to the government from its surpluses as per the Bimal Jalan panel report. (Photo: File)

'Seen it only in media': RBI Governor on Rs 30,000 crore reported payout

As per media reports, the government might seek an interim dividend of about Rs 30,000 crore from the RBI towards the end of financial year.

04 Oct 2019 3:19 PM

Reserve Bank of India's Monetary Policy Committee decided to cut benchmark lending repo rate by 0.25 per cent to 5.15 per cent in a bi-monthly meeting in Mumbai on Friday.

RBI cuts repo rate by 0.25 per cent to support growth

The repo rate has been brought down to 5.15 per cent to help reduce borrowing costs for home and auto loans.

04 Oct 2019 12:08 PM

According to the survey, new work intakes contracted in September, after an 18-month sequence of expansion. (Photo : Representational)

India's services sector activity contracts in Sep on weak demand: PMI

The IHS Markit India Services Business Activity Index fell to 48.7 in September from 52.4 in August.

04 Oct 2019 11:54 AM

Experts and industry feel low inflation provides enough headroom for the RBI to further lower the policy rate, especially when festive season has just started.

RBI likely to cut policy rate on Friday to boost economy

RBI Governor Shaktikanta Das has already hinted further monetary policy easing while space for fiscal space is limited.

03 Oct 2019 5:50 PM

In a statement, the ICAI said it has sought requisite details of their findings as well as that of any 'member/firm alleged to be involved in the matter'. (Photo: File | PTI)

PMC Bank case: ICAI to check role of auditors

ICAI on Wednesday said it has triggered its disciplinary mechanism and has written to the bank as well as regulatory agencies.

02 Oct 2019 3:56 PM

The RBI is predicted to lower its key lending rate or the repo rate by 25 basis points (bps) to 5.15 per cent, which would take cumulative cuts so far this year to 135 bps.

India central bank set to cut rates again as fiscal measures fail to cheer

With current inflation remaining benign, we expect RBI to opt for a 40 bps rate cut, said Yes Bank's Yuvika Oberoi.

02 Oct 2019 2:41 PM

In the six-page letter, Joy Thomas details the birth and growth of the relationship between PMC Bank and HDIL and refers to at least three occasions in which the company infused funds when the bank was struggling, including a Rs. 100 crore payment in 2004. (Photo: PTI)

Suspended PMC bank chief hid information from RBI to save itself from ‘reputational loss’

‘As loans outstanding were huge and if these were classified as NPA it would have affected the profitability,’ the letter said.

01 Oct 2019 5:49 PM

RBI Governor Shaktikanta Das has already hinted that the benign inflation provides room for further monetary policy easing while space for fiscal space is limited. (Photo: File | AFP)

RBI begins policy review meet; rate cut on cards to boost economy

The six-member MPC is scheduled to announce the fourth bi-monthly monetary policy for 2019-20 on Friday, October 4.

01 Oct 2019 5:19 PM

are protected. The action was necessitated as in case of PMC Bank, the small depositors constitute around two-thirds of its depositor base, a source explained. (Photo: PTI | File)

Before RBI clampdown, PMC Bank saw huge cash withdrawals from big depositors

RBI has put on PMC strict restrictions including limiting withdrawals at Rs 10,000 and banning it from lending for next six months.

01 Oct 2019 9:42 AM

Commercial borrowings remained the largest component of external debt, with a share of 38.4 per cent, followed by non-resident deposits (24 per cent) and short-term trade credit (18.7 per cent), the RBI said in a release. (Representational Image)

India's external debt rises to USD 557.4 billion end-June 2019

Excluding the valuation effect, the increase in external debt would have been USD 12.4 billion instead of USD 14.1 billion.

01 Oct 2019 9:15 AM

The crisis raises question mark on role of various people whether it is regulator, auditors, directors and other officials, MoS Finance Anurag Thakur said on the sidelines of an event organised by Punjab National Bank in New Delhi. (Photo: File)

PMC Bank crisis 'eye opener', RBI looking into lapses: Thakur

PMC Bank came under stress due to alleged financial irregularities forcing the RBI to impose restriction on it.

30 Sep 2019 3:38 PM

Shivaji is likely to replace Viral Acharya, who citing unavoidable personal circumstances, resigned as deputy governor of Reserve Bank of India in June.

IAS Kshatrapati Shivaji front runner for RBI deputy governor post: Report

Since December 2016, Kshatrapati Shivaji is working with the Asian Development Bank as an executive director.

30 Sep 2019 3:18 PM

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Lekha Shankar