Punjab and Maharashtra Co-operative Bank Details and Services

The Punjab and Maharashtra Co-operative Bank (PMC Bank) was founded in 1984, making it a well-established financial institution in India.

It has a large network of branches, with over 137 branches across the country.

PMC Bank offers a range of services, including savings accounts, current accounts, and loan facilities.

Customers can access their accounts online or through mobile banking services, making it convenient to manage their finances.

PMC Bank was started in 1984 with a single branch. It has since grown into a significant institution.

The bank was granted the 'Schedule Bank' status, a notable achievement. This recognition highlights its importance in the banking sector.

PMC Bank has a large network of 111 branches. This extensive reach allows it to cater to a wide range of customers.

The bank has been operating for over 31 years. Its longevity is a testament to its stability and reliability.

As one of the country's leading co-operative banks, PMC Bank has many unique features. These features set it apart from other banks and make it a popular choice among customers.

The PMC Crisis was a wake-up call for many depositors and regulators alike. The Reserve Bank of India (RBI) banned the Punjab and Maharashtra Cooperative Bank Ltd from doing any kind of business transactions, sparking panic among depositors.

Depositors were initially allowed to withdraw only Rs 1,000 from their accounts, a stark contrast to the usual ease of access to their funds. The RBI's restrictions also prohibited the bank from granting, renewing, and making loans and advances without prior approval.

The bank's capital position was a key indicator of its health, and the RBI had mandated a capital-to-risk weighted assets ratio (CRAR) of over 9%. Unfortunately, the PMC's CRAR was not up to par, and it had a negative CRAR, joining the ranks of only three other urban Cooperative Banks (UCBs) that had the same issue.

Bank profitability is another crucial indicator, and the PMC's Return on Assets (RoA) was a decent 0.89% as of March 31, 2018. However, this dropped to 0.75% by March 31, 2019, a sharp decline that should have raised some red flags.

The gross Non-Performing Assets (GNPA) of the PMC suddenly peaked in March 31, 2019, rising to 3.79%, a level not seen in the past decade. This was a clear sign of trouble, as bad loans can have a significant impact on a bank's financial health.

The PMC's credit portfolio underwent a significant change in the last two years, with a dramatic shift away from lending to priority sectors such as agriculture, MSME, education, and housing. By 2019, these sectors accounted for just over 15% of the bank's loans, a far cry from the over 40% in 2015.

At Punjab and Maharashtra Co-operative Bank, you can transfer funds online using NEFT/RTGS, saving the hassle of physical payment settlements.

Using NEFT/RTGS allows you to transfer funds to any bank account in the country, seamlessly.

Knowing the IFSC code of the recipient bank branch is crucial before initiating an electronic fund transfer.