Three more arrested in PMC Bank scam

Banwait was a director and member of the bank's Loan, Investment and Executive Committee when the alleged Rs 4,355 crore scam involving Housing Development and Infrastructure Ltd (HDIL) took place, the EOW official added.

By: PTI | Mumbai | Published: March 12, 2020 7:39:53 pm
PMC Bank scam, PMC scam, PMC bank case, PMC bank PMLA case, PMC bank, Punjab and Maharashtra Cooperative Bank. Mumbai news, city news, Indian Express Mumbai: Depositors of Punjab and Maharashtra Cooperative (PMC) bank display placards during a protest over the bank’s crisis, outside the Reserve Bank of India building, in Mumbai, Sunday, Oct. 6, 2019. (PTI Photo)

The Economic Offences Wing (EOW) of the Mumbai Police which is investigating alleged scam at the Punjab and Maharashtra Co-operative (PMC) Bank on Thursday arrested three persons including a former director, an official said.

Jasvinder Singh Banwait, Vishwanatha Shridhar Prabhu and Shripad Govind Jere were arrested on Thursday.

Banwait was a director and member of the bank’s Loan, Investment and Executive Committee when the alleged Rs 4,355 crore scam involving Housing Development and Infrastructure Ltd (HDIL) took place, the EOW official added.