Irregularities In PMC Bank Working Will Be Probed: Mumbai Police Chief

General News

The Mumbai Police will investigate how the RBI audit missed various irregularities in the PMC bank transactions, the metropolis police chief said.

Written By Press Trust Of India | Mumbai | Updated On:
PMC Bank

The Mumbai Police will investigate how the Reserve Bank of India audit missed various irregularities in the PMC bank transactions, the metropolis police chief said on October 16. Mumbai Police Commissioner Sanjay Barve said this after meeting a group of PMC Bank depositors met him during the day at his office. 

'Irregularities in the PMC Bank Scam will be probed': Mumbai police Chief

While interacting with the depositors, Barve said the police are looking into why and how these irregularities in the functioning of the bank did not figure in RBI's forensic audit report. 

READ | Around 50 PMC Bank Customers Stage Protest Outside RBI

In normal course, an audit by the RBI or co-operatives should reveal such irregularities. We are looking into this aspect as to how and why the audits did not reveal these things, he added.

In this case, the loans were not shown in the name of HDIL but were shown in the accounts of different names.

We are looking into why such disproportionate rise in the loans were not noticed by the regulators, he said.

"Police will not spare any independent auditors, cooperative auditors, RBI auditors. They all will have to explain what they saw, what they found and why they did not notice these things during audits," he said. 

READ | PMC Bank Crisis: Another Mumbai Man Passes Away To Heart Attack

READ | PMC Bank Scam: Former Chairman Waryam Singh, HDIL Directors Sent To JC

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