PMC Bank Fraud Has Exposed Obvious Gaps in Regulation
Over the years, we have seen our fragile and broken banking system being repeatedly bailed out with taxpayers’ money. There are suggestions that Punjab and Maharashtra Cooperative Bank (PMC Bank) should be bailed out by a government bank. The discovery of fraud in PMC Bank is not the first one in the cooperative sector and is certainly not going to be the last one. Cooperative banks have been...
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