PMC Bank Falsified Records, Treated NPA Accounts As Non-NPA; RBI Tells Bombay HC, Court Refuses To Interfere With Withdrawal Restrictions

As hundreds of aggrieved depositors of the Punjab and Maharashtra Co-operative Bank protested outside the Bombay High Court, Reserve Bank of India on Tuesday filed a detailed affidavit listing out the reasons why the financial irregularities at Punjab and Maharashtra Co-operative Bank were not detected earlier by the Central Bank and steps being taken to ease the financial stress that...