RBI files detalied affadavit on the PMC Bank scam in the Bombay High Court

A detailed affidavit has been filed by Reserve Bank of India (RBI) in Bombay High Court. affidavits are based on a batch of petitions filed by depositors of Punjab and Maharashtra Co-operative Bank (PMC) challenging limit imposed by RBI on amount of money that can be withdrawn. petitioners also were provided with a copy of affidavit from RBI regarding steps it aims to take to protect ir interest. matter is set to be heard on December 4. 

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Arrests me in relation to PMC Bank scam 

former director of PMC Bank, Rajneet Singh, who is also son of former BJP MLA Tara Singh, has been arrested by Ecomic Offence Wing (EOW) of Mumbai Police. This comes as re has been a row of arrests in connection with PMC Bank matter in Mumbai. On Wednesday, vember 13, Ecomic Offences Wing (EOW) of Mumbai Police arrested an auditor in connection with alleged Rs 4,355 crore scam at Punjab & Maharashtra Cooperative (PMC) Bank. Including auditor, this becomes ninth arrest in case.

Accounting to number of arrests in connection with PMC Bank scam, Anita Kirdat (35), a 'concurrent auditor' of bank, was arrested on Tuesday, vember 19. Her duty included ensuring a "systematic and timely examination" of bank's financial transactions. Kirdat audited bank's transactions monthly, but allegedly could t or did t point out irregularities in its processes. She was called for questioning and later arrested, official said, ding that she was remanded in EOW custody by a local court till vember 18.

On Monday as well, EOW h arrested two statutory auditors, Jayesh Sanghani and Ketan Lakdawala, in connection with scam. y are suspected to have played a key role in covering up irregularities in bank. EOW suspects a nexus between some of accused and realty group HDIL, whose mammoth loan defaults are said to have caused a liquidity crisis at bank, leing to appointment of ministrator and restrictions on withdrawal of funds. Earlier, EOW h arrested three top bank officials and two promoters of HDIL -- Rakesh and Sarang Whawan -- in scam.

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(INPUTS FROM ANI)