Punjab and Maharashtra Cooperative Bank Limited (PMC Bank) Current Affairs, GK & News
PMC Bank amalgamation scheme
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 ..
Month: Current Affairs - January, 2022
Category: Economy & Banking Current Affairs - 2022
Topics: BharatPe • PMC bank • Punjab and Maharashtra Cooperative Bank Limited (PMC Bank) • Small Finance Banks • Unity Small Finance Bank (SFB).
Centrum to takeover PMC Bank
Reserve Bank of India (RBI) cleared proposal to takeover of Punjab and Maharashtra Cooperatives Bank (PMC Bank) by a consortium of non-bank lender Centrum Financial Services & fintech startup BharatPe. Background This decision was taken in the backdrop of collapse of Punjab & Maharashtra Cooperatives Bank. This state cooperative lender was on the verge of ..
Month: Current Affairs - June, 2021
Category: Economy & Banking Current Affairs - 2022
Topics: BharatPe • Decentralisation • Non-bank financial institution • Punjab and Maharashtra Cooperative Bank Limited (PMC Bank)
RBI extends restrictions on PMC Bank, eases Withdrawal Limit
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 ..
Month: Current Affairs - June, 2020
Category: Economy & Banking Current Affairs - 2022
Topics: Banking Regulation Act • Housing Development & Infrastructure (HDIL) • Maharashtra • PMC bank • Punjab and Maharashtra Cooperative Bank Limited (PMC Bank) • Reserve Bank of India