PMC Bank Crisis: Director Surjit Singh Arora Arrested

Notably, this is the fifth arrest in the PMC Bank crisis and the other four includes promoters of HDIL group Rakesh and Sarang Wadhawan, former PMC Bank chairman Waryam Singh and former Managing Director of the bank Joy Thomas.

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Former Director of The Punjab and Maharashtra Cooperative Bank (PMC) Surjit Singh Arora was arrested by the Economic Offence Wing (EOW) of the Mumbai Police on Wednesday, October 16. 

Also Read: What’s In Store For PMC Bank’s Customers?

Arora was involved in the loan sanctioning process of the entire PMC Bank scam that has come to light. Notably, this is the fifth arrest in the PMC Bank crisis and the other four includes promoters of Housing Development and Infrastructure Limited (HDIL) group Rakesh and Sarang Wadhawan, former PMC Bank chairman Waryam Singh and former Managing Director (MD) of the bank Joy Thomas. 

 Moreover, the withdrawal limit of the PMC Bank was recently increased to ₹40,000 as compared to the previous ₹25,000. 

Also Read: A PMC Bank Customer Narrates How The Last Few Days Have Been For Him

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