Tag Archives: PMC Bank

PMC Bank seeks merger with another bank

Reported by | Updated: September 18, 2020

Tainted PMC Bank has approached other banks for a possible merger, according to a filing in a court. The bank’s efforts to recover funds, especially from large borrowers have been affected by the corona pandemic and its depositors have been left high and dry. Thousands of depositors have been unable to access their deposits for […]

Merger of PMC Bank with MSC Bank mooted

Reported by | Updated: December 9, 2019

The Maharashtra government has recommended the merger of scam-tainted Punjab and Maharashtra Cooperative Bank with the Maharashtra State Cooperative Bank. Jayant Patil, who took over as a minister in the state cabinet said the government stands behind the PMC Bank depositors and that he has discussed the issue with the Maharashtra State Cooperative Bank directors […]

When leaders are confused

Reported by | Updated: November 5, 2019

While the PMC Bank fraud came to light, I was reading a novel End of Saamba Dance written by Sridhar Ramachandran. I was surprised to find many commonalities between the fiction world and the real world, and that spurred me to finish the novel quickly. The novel is about a visionary industrialist who starts from […]