Mumbai: A big disclosure has been made about the crisis-hit Punjab and Maharashtra Co-operative Bank i.e. PMC. The suspended MD of PMC, Joy Thomas, disclosed that PMC has given a loan of Rs 2,500 crore to HDIL Bank. This is about a third of the bank's total debt. He said that the former management of the bank kept the board of directors in the dark on the matter of non-performing assets (NPAs).

Finance Minister gave this order in a meeting with the heads of PSU

He said that in the last six-seven years, the outstanding loan of PMC Bank on HDIL increased to more than Rs 2,500 crore. However, the management did not tell the board of directors that its largest customer has been NPA for the last two-three years. Explain that the Reserve Bank of India has taken the regulatory action on Tuesday and dissolved the PMC management.

Companies will analyze mining before investing in a diamond mine

The central bank has appointed an administrator for the functioning of the PMC for six months. The total outstanding debt of the bank is around Rs 8,400 crore while it has total deposits of Rs 11,630 crore. He said that the Board of Directors was not aware that HDIL's debt had become NPA. He was not informed about it. It was allocated at the central office level. However, he did not say who did the loan allocation.

Oil imports from America increased by 72 per cent, this country gives the most oil