‘PMC Bank was breaking RBI rules for 6-7 years’

Suspended MD of PMC Bank Joy Thomas has admitted that the troubled bank has had a long relationship with realty group HDIL and that the lender had been breaking RBI’s rules for six to seven years. In fact, the bank appointed Waryam Singh, who was on the board of HDIL—the bank’s largest borrower—as its chairman in 2015.

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