PMC bank Current Affairs, GK & News

PMC Bank amalgamation scheme

January 26, 2022

On January 25, 2022, the Reserve Bank of India (RBI) announced that, government has notified a draft scheme for amalgamation of Punjab & Maharashtra Cooperative (PMC) Bank with Unity Small Finance Bank (SFB). Highlights Final scheme envisages to start pay-outs for depositors with around Rs 5 lakh in balance within one year, as opposed to ..

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RBI forms Academic Advisory Council for Supervisory College

January 7, 2021

The Reserve Bank of India recently formed an advisory council under former deputy governor N S Vishwanathan to advise the director of the central bank on supervisory colleges. What is the role of the council? The council will identify areas where upskilling and building are required in supervisory colleges. Also, the council will plan and ..

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Cooperative Banks brought under RBI

June 25, 2020

On June 24, 2020, the Union Cabinet chaired by PM Modi approved to bring cooperative banks under the Reserve Bank of India. This is to be done through an ordinance. Highlights There are about 1,482 crores of urban cooperative banks. Apart from these, India also holds 58 multi-state cooperative banks. These banks together support 8.6 ..

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RBI extends restrictions on PMC Bank, eases Withdrawal Limit

June 20, 2020

The Reserve Bank of India on 19th June 2020 has extended the regulatory restrictions imposed on the multi-state urban Cooperative Bank, Punjab and Maharashtra Cooperative Bank Limited (PMC Bank) by another 6 months. As per the earlier notice dated March 21st, 2020, the regulatory restrictions were up to 22nd June 2020, which now has been ..

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