Who are the Promoters of HDIL? The promoter of HDIL is the former chairman of PMC Banks and rest is the scam.
Very few people are aware of the Punjab and Maharashtra Co-operative Bank, PMC bank, in the eastern part of country. Cooperative banks are formulated for the social welfare of society, not for profit maximization, the ideology behind creating a cooperative bank. PMC bank is the largest urban cooperative bank to be placed under the RBI watch since 2001. PMC bank was founded in the year 1984 in a single room from a single branch currently the bank touched 137 branches across six states Maharashtra, Delhi, Karnataka, Goa, Gujarat, Andhra Pradesh, and Madhya Pradesh.
What went wrong for such a bank which started with a modest outlook?
PMC bank recently suspended Managing Director and Chief Executive Officer (CEO), Mr. Joy Thomas, after they admitted in a “confession letter “ to RBI that the actual exposure to HDIL is over Rs 6,500 crore – four times the regulatory cap prescribed. The financials of PMC bank showed as on 31-March 2019, Net profit of Rs 99.69 core, NPA only 2.19%. A bank earning profit as well as the NPA under control went doldrums. Auditors have not highlighted the fact of loan exposure of Rs 6500 crore, which is, in fact, a massive regulatory weakness.
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Tribute To the Dada of Indian Politics
Former President Pranab Mukherjee, aged 84, passed away on 31 August evening after prolonged illness. He was admitted to the Army’s Research and Referral Hospital in Delhi Cantonment on August 10 and was operated the same day for removal of a clot in his brain. He later had gone into septic shock due to his lung infection.
Salute to the Silent Warriors!
The Army Dog Unit, fondly called “The Silent Warriors”, has time and again proven to be an asset for the security forces.
THE WATER BOMB TICKING
Tick-Tocking Anti-India Games, China Now Aims to Deluge the Northeast Amlan Home Chowdhury
Submergence Tolerant: Assam
It took 10 years time for Assam government to make the state’s rice farmers shift to new generation crop – Submergence tolerant…. and finally the concept is now popular at least among 60 percent of farmers of the flood-hit districts.
RECALLING - THE MAN OF GREAT VIRTUES P.A.SANGMA
As September approaches there begins a change in Delhi, morning becomes cooler, midday sun a bit friendly, humidity too pretends to be packing off and a sense of an all-pervasive thermal comfortability becomes visible outdoors. I still remember P A Sangma was born on 1st September 1947and the remembrance takes me to look back and a montages of memories come crowding in: some events are still clear while some got blurred, perhaps the inner flash is partly diffused.
NAGAON PAPER MILL
The Lost Glory of Assam
An Age-old Indian Intellectual Property in Management of COVID-19
Splendid Spiritual Destination Development Takes Off
Kamala To Contest U.S. Poll
First black & Indian American Woman to contest on Democratic Ticket
Overseas Racket In Wild Life Trafficking
Barak Valley for its strategic location bordering Manipur, Mizoram, Tripura, Meghalaya and the district of Dima Hasao has been infamous for it being a corridor of extremists, smugglers, illegal transportation of Burmese betel nuts, black diamond and now trafficking in wild life with overseas connections.
India's Stressed Banks
“This is the classic crisis of confidence”
India Is The Latest To Meddle In Its Central Bank's Affairs
The autonomy of India’s central bank is under threat.
Chahar’s Burst, Jadeja’s Fielding Brilliance Help CSK Down Punjab In MSD’s 200th Game For Chennai
Exiting The Easy Money Circle
THE RBI ADOPTED MULTIPLE REGULATORY FORBEARANCE MEASURES AND ULTRA-LOOSE MONETARY POLICY TO COUNTER ECONOMIC HEADWINDS. NOW IT HAS TO WORK OUT AN EXIT ROADMAP
A BETTER DEAL FOR FARMERS?
Faced with pressure from the Centre, Punjab is moving towards direct benefit transfer (DBT) to farmers for grain procured for the national granary this season.
योगी के अंकुश में डॉन
पंजाब में पिछले 26 महीने से रूपनगर की जेल में रह रहे बाहुबली व गैंगस्टर मुख्तार अंसारी को सर्वोच्च न्यायालय के आदेश पर उत्तर प्रदेश पुलिस के हवाले कर दिया गया है.
न्यू अंब्रेला एंटीटी (एनयूई) भुगतान प्रणाली
Explained: B.1.617 variant and the surge
Genome sequencing data have presented evidence of the 'double mutant' in 61% of samples in Maharashtra. But whether this new variant is driving India's ongoing surge can be said only after more data is available.
डॉन की उल्टी गिनती
गैंगस्टर-नेता मुख्तार अंसारी को पंजाब से यूपी की जेल भेजा जाना योगी सरकार की जीत के तौर पर देखा जा रहा है. इस पर आगे की राजनीति के पत्ते कैसे खुलेंगे?
Risk-Based Internal Audit (RBIA)