The Unity Small Finance Bank started its operations as a small finance bank (SFB) from November 1. It had been issued a licence under Section 22 (1) of the Banking Regulation Act (1949) for operating as an SFB in India.
Varsha Raut was grilled and her statement recorded under the Prevention of Money Laundering Act (PMLA) by the central probe agency for the first time on January 4.
Varsha Raut reached the ED office at Ballard Pier in South Mumbai around 3 pm after she was summoned by the central agency.
The proposed move comes in the wake of a large-scale scam in the PMC Bank.
With the above relaxation, more than 78% of the depositors of the bank will be able to withdraw their entire account balance.
In September, the RBI restricted the activities of the PMC Bank for six months including withdrawing of funds and acceptance of fresh deposits after an alleged fraud of Rs 4,355 crore came to light.
The PMC Bank has been put under restrictions by the RBI after an alleged fraud of Rs 4,355 crore scam came to light.
The Economic Offences Wing earlier this month registered a case against the Wadhawans and top officials of the PMC Bank for allegedly causing losses to the tune of Rs 4,355.43 crore to the bank.
Murlidhar Dharra, had as much as Rs 80 lakh in deposits with PMC Bank but could not withdraw the money due to the RBI curbs.
A farmer sits near his red chillies at a deserted APMC market, during the weekend curfew imposed by the Karnataka government to curb the spread of COVID-19, in Hubballi.PTI Photo
Delhi Chief Minister & AAP National Convenor Arvind Kejriwal being welcomed by women supporters during his door-to-door campaign ahead of the Goa Assembly elections, in Goa.PTI Photo
A health worker collects swab sample of a woman for COVID-19 test, amid concerns over rising Omicron cases, in Gurugram.PTI Photo
Traffic jam on a road at Shalimar Bagh during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
The Lajpat Nagar market wears a deserted look during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
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Even after two years of the Covid-19 pandemic, many 'informed' individuals in India continue to deny the virus with unscientific claims and unfounded data. The latest? Omicron will end the pandemic.
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