Thursday, Aug 06, 2020 | Last Update : 01:21 PM IST

135th Day Of Lockdown

Maharashtra46826530552116476 Tamil Nadu2734602148154461 Andhra Pradesh1864611043541681 Karnataka151449746792804 Delhi1402321261164044 Uttar Pradesh104388605581857 West Bengal83800589621846 Telangana7095850814576 Gujarat65704485612529 Bihar6203140760349 Assam4816233429115 Rajasthan4667932832732 Haryana3779631226448 Odisha3768124483258 Madhya Pradesh3508225414912 Kerala279561629988 Jammu and Kashmir2239614856417 Punjab1901512491462 Jharkhand140705199129 Chhatisgarh10109761369 Uttarakhand8008484795 Goa7075511460 Tripura5520367528 Puducherry4147253758 Manipur301818147 Himachal Pradesh2879171013 Nagaland24056594 Arunachal Pradesh179011053 Chandigarh120671520 Meghalaya9173305 Sikkim7832971 Mizoram5022820
  Business   Companies  14 Oct 2019  RBI raises PMC Bank customers' withdrawal limit to Rs 40,000

RBI raises PMC Bank customers' withdrawal limit to Rs 40,000

PTI
Published : Oct 14, 2019, 7:56 pm IST
Updated : Oct 14, 2019, 7:56 pm IST

With this, about 77 per cent of the depositors will be able to withdraw their entire account balance, said RBI.

This is the third time the regulator has increased the withdrawal limit since its clamped down on the bank on September 23, when the RBI had capped it at Rs 1,000 per customer, which led to lot of distress and criticism. (Photo: File | PTI)
 This is the third time the regulator has increased the withdrawal limit since its clamped down on the bank on September 23, when the RBI had capped it at Rs 1,000 per customer, which led to lot of distress and criticism. (Photo: File | PTI)

Mumbai: The Reserve Bank of India on Monday increased the withdrawal limit for depositors of scam-hit Punjab and Maharashtra Cooperative (PMC) Bank to Rs 40,000 from Rs 25,000 per account over the next six months.

This is the third time the regulator has increased the withdrawal limit since its clamped down on the bank on September 23, when the RBI had capped it at Rs 1,000 per customer, which led to lot of distress and criticism.

 

The Reserve Bank of India, after reviewing the bank's liquidity position and its ability to pay its depositors, has decided to further enhance the limit for withdrawal to Rs 40,000, inclusive of Rs 25,000 allowed earlier, the central banks said in a statement.

With the above relaxation, about 77 per cent of the depositors of the bank will be able to withdraw their entire account balance, it said.

Tags: reserve bank of india, punjab and maharashtra cooperative bank, pmc bank
Location: India, Maharashtra, Mumbai (Bombay)