PMC Bank scam case | In September, the Punjab & Maharashtra Cooperative Bank (PMC Bank) was put under restrictions by Reserve Bank of India after an alleged Rs 4,355 crore scam came to light. The bank remains under an RBI administrator due to under-reporting of dud loans.
Multiple persons including promoters of realty group Housing Development and Infrastructure (HDIL) and top bank officials have been arrested in connection with the scam. The bank allegedly gave loans which turned sour with a shift in the fortunes of the now bankrupt company.
