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PMC Bank

Home > Posts tagged PMC Bank

DICGC- To Benefit Govt, Not Customers

The Deposit Insurance Act 1961 came into force from 1st January 1962. Though the name still continues to be ‘Deposit Insurance and Credit Guarantee Corporation,’ the Credit Guarantee scheme was discontinued in 2003. ​The Deposit...

Read more August 25, 2021 at 12:53 pm Thomas Franco

Is PMC fraud an isolated event or a Systemic Failure?

On 24th September the depositors of the Punjab and Maharashtra Cooperative (PMC) Bank, woke up to the RBI directive that they are allowed to only withdraw Rs. 1000 from their accounts for the next...

Read more October 5, 2019 at 8:54 am Priya Dharshini

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