Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

The chairman of the MSC Bank Vidyadhar Anaskar has written to the FM regarding merger of MSC

The chairman of the MSC Bank Vidyadhar Anaskar has written to the FM regarding merger of MSC

Maharashtra State Co-operative (MSC) bank recently wrote to Nirmala Sitharaman, Union Finance Minister in regards to the merger of PMC bank. The chairman of the MSC Bank Vidyadhar Anaskar stated that any decision concerning the scheme can happen only if the extent of fraud can be ascertained correctly through forensic audit. The bank merger idea is opposed because MSC Bank is an apex bank that work for cooperatives while compared to Maharashtra and Punjab bank because they function in multi-state. So the deal is slightly impossible because of the extended presence of the merger banks in other state.

The chairman furthermore stated that they have written to the FM, suggesting a branch merger, instead of a bank merger. When the RBI put PMC Bank under instruction in September 2019 for mismanagement in administration, almost Rs 11,000 crore of depositors’ money was stuck. The bank was found to have given over Rs 6,700 crore in loan through fraudulent means. Police have estimated that almost 4,700 crore was pegged by fraud at the PMC Bank. Anaskar stated that it is very important to first calculate the amount and extent of fraud before merger and this can only be done by the RBI’s forensic audit.


Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...

Countries in Asia-Pacific are marching towards ‘green recovery’ amidst Covid-19 crisis

2020 has been an unforgettable year for many of us. The ongoing Covid crisis has reminded people that it is very important to have an uninterrupted an...

Department of Telecommunication to announce the new schedule for 5G trials

Department of Telecommunications (DoT) is all set to announce the new schedule for 5G trials. The Dot made this decision after being pulled by the par...