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Bank Crisis Hits India: “Bank Stops Functioning, People Crying Outside Bank Branches”

Bank Crisis Hits India: “Bank Stops Functioning, People Crying Outside Bank Branches” The Punjab Maharashtra Co-operative Bank (PMC), in India, has been caught cooking the books and misreporting non-preforming loans (NPL) of Mumbai-based real estate developer Housing Development and Infrastructure Ltd (HDIL). As Reuters reports,  PMC hid the bad loans with 21,000 fictitious accounts, which has spooked depositors, […]

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