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RBI affidavit details how it was 'cheated' by scam-hit PMC Bank

Updated : November 20, 2019 09:13 AM IST

The affidavit states that PMC Bank had submitted fraudulently manipulated data to the central bank for sample checks.
While the HDIL accounts shown by PMC Bank were seen by the RBI inspection team, a majority of them were declared as non-performing assets.
As per the preliminary findings, due to various financial irregularities, the PMC Bank's net worth had turned negative, with a significant erosion in deposits.
RBI affidavit details how it was 'cheated' by scam-hit PMC Bank
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