Inspection report of scam-hit PMC Bank yet to be finalised: RBI

Replying to an RTI query, RBI said preliminary findings indicated large-scale irregularities, warranting supersession of its board of directors and imposition of all inclusive directions of the Banking Regulation Act, 1949. "The report is yet to be finalised as inspection with respect to PMC Bank's financial position as on March 31, 2019, is under progress," RBI said.

from Banking/Finance-Industry-Economic Times https://ift.tt/2F4RESS