RBI allows Centrum to take over PMC

Diversified financial services player Centrum Group on Friday said it has received an in-principle approval from the Reserve Bank of India (RBI) to take over the troubled cooperative lender PMC Bank and re-launch it as a small finance bank. Continue Reading

Government committed to reform cooperative banks: Nirmala Sitharaman

In the wake of the crisis at Punjab & Maharashtra Cooperative (PMC) Bank, finance minister Nirmala Sitharaman reiterated the government commitment to rein in cooperative banks by bringing in necessary legislative changes. She said the finance ministry and RBI officials had three meetings since the PMC Bank crisis and the effort is to bring back the confidence of the depositors in the nation’s banking system. Continue Reading

NT compiles a list of major financial crimes that shocked India

Ever since Punjab and Maharashtra Cooperative Bank (PMC Bank) crisis unfolded, citizens across India are worried by the mounting financial stumbles that have plagued our nation as our economy continues to stumble downward. In this article, News Today compiles a list of major white-collar crimes that rocked our country. Continue Reading