New Delhi [India], May 3 (ANI): The Delhi High Court on Monday issued notice to the Centre, Reserve Bank of India (RBI), Punjab and Maharashtra Cooperative (PMC) Bank and others on an application seeking immediate release of emergency funds to meet the financial needs arising out of sudden outbreak of second wave of COVID-19.
Distraught depositors want PMC Bank revived soon
May 02, 2021
In desperate need of money to ride out Covid wave two
Distraught depositors of the scam-hit Punjab and Maharashtra Co-operative (PMC) Bank want the Reserve Bank of India (RBI) to speed up revival/reconstruction of the bank as they are in dire need of money to meet exigencies arising from the second wave of the Covid-19 pandemic.
Some of the depositors, especially the elderly, are barely able to get by despite having lakhs and crores of rupees locked up in the bank, as the RBI clamped down on deposit withdrawal since September 24, 2019, capping it at ₹1 lakh per depositor for the entire period that the bank is under Directions.
PMC Bank scam: Bail pleas of Viva group managing director Mehul Thakur, CA rejected
SECTIONS
Last Updated: Apr 10, 2021, 08:05 PM IST
Share
Synopsis
Their plea for default bail was rejected by special judge Abhijeet Nandgoankar on April 8, and a detailed copy of the order was made available on Friday.
Mehul Thakur (centre) and Madan Chaturvedi (behind) on their way to court.
A special PMLA court in Mumbai has denied bail to Mehul Thakur, managing director of Viva group, and chartered accountant Madan Chaturvedi in connection with the Rs 4300-crore PMC Bank fraud case. Their plea for default bail was rejected by special judge Abhijeet Nandgoankar on April 8, and a detailed copy of the order was made available on Friday.
Northlines
Uttam Gupta
Even as the Government is making all efforts to ensure that the Gross Domestic Product (GDP) after witnessing 8 per cent contraction during 2020-21 returns to a high growth trajectory, it is concerned about the tepid recovery in credit availability which is considered to be the sine qua non of growth. According to the latest data by the Reserve Bank of India (RBI), the annual non-food bank credit growth in January this year was at 5.7 per cent compared to 8.5 per cent in the same period last year. Credit to industry, however, contracted by 1.3 per cent in January 2021 as compared to 2.5 per cent growth in January 2020.
How to Protect Customers of Banking and NBFCs with New Structure moneylife.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneylife.in Daily Mail and Mail on Sunday newspapers.