Economy, India, PMC Bank, RBI, Reserve Bank Of India, Shaktikanta Das,

Forensic audit underway, closely monitored at PMC Bank: Shaktikanta Das

New Delhi: Reserve Bank Governor Shaktikanta Das said on Thursday that the scam affected PMC was closely monitoring the situation and a forensic audit was underway.

Punjab & Maharashtra Cooperative Bank (PMC Bank), one of the top 10 urban co-operative banks in the country, was placed under RBI Administrator on September 23 for reporting massive dude loans for six months.

“The situation of the PMC bank is being closely monitored. A forensic audit is going on in the PMC bank case,” Das told reporters after a meeting of the Financial Stability and Development Council (FSDC) here.

Withdrawal restrictions were imposed on the account holders after the alleged irregularities of Rs 4,355 crore were found to have diverted the money to infrastructure firm HDIL.

On Tuesday, the top bank raised the cash withdrawal limit of Rs. 50,000 per account, which was the fourth such increase since PMC Bank was placed under direct control.

Five people, including HDIL promoters Rakesh and Sarang Wadhawan, have been arrested in the case.

There have been several protests by depositors in Mumbai and at least 10 depositors have died after the alleged scam surfaced. Scattered protests also took place in front of the RBI head office in Delhi.


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