Timeline of pmc crisis

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Santosh Mishra

Timeline of PMC Crisis starting 1984 and current

Economy & Finance

TIMELINE OF PMC Crisis
1984 as a
single branch
Bank
1986-
Financial
Crisis and
founder of
HDIL helped
them to
recover
2004-
Financial
Crisis and
HDIL
grouped
helped them
to recover
2008- PMC
started
hiding the
loans given
to HDIL from
RBI
2011- 1026
crore out of
2000 total
loan book is
given to
HDIL
2015- RBI
was not
checking in
depth hence
they were
hiding
2017-
Splitted the
loan into
several
“Dummy
accounts” to
hide the loan
exposure
2019-
September
21- MD
wrote letter
to RBI
regarding
fear of no
recovery
2019-
September
23- RBI
limited to
1000
withdrawal
limit
2019-
September
27- RBI
increased
limit to
10000
2019-
October 3 ,
Arrested the
Wadhwan
Group MD
and took
over assets of
3500 crores
Internal Circulation only Finance and Investment Club IIM
Rohtak
1

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Timeline of pmc crisis

1. TIMELINE OF PMC Crisis 1984 as a single branch Bank 1986- Financial Crisis and founder of HDIL helped them to recover 2004- Financial Crisis and HDIL grouped helped them to recover 2008- PMC started hiding the loans given to HDIL from RBI 2011- 1026 crore out of 2000 total loan book is given to HDIL 2015- RBI was not checking in depth hence they were hiding 2017- Splitted the loan into several “Dummy accounts” to hide the loan exposure 2019- September 21- MD wrote letter to RBI regarding fear of no recovery 2019- September 23- RBI limited to 1000 withdrawal limit 2019- September 27- RBI increased limit to 10000 2019- October 3 , Arrested the Wadhwan Group MD and took over assets of 3500 crores Internal Circulation only Finance and Investment Club IIM Rohtak 1

Timeline of pmc crisis

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