Monday, Jul 06, 2020 | Last Update : 06:47 PM IST

103rd Day Of Lockdown

Maharashtra2000641080828671 Tamil Nadu107001605921450 Delhi97200682563004 Gujarat35398254141926 Uttar Pradesh2655418154773 Telangana2231211537288 Karnataka215499246335 West Bengal2123114166736 Rajasthan1975615663453 Andhra Pradesh186978422232 Haryana1669012493260 Madhya Pradesh1460411234598 Bihar11860876590 Assam11002674414 Odisha9070622446 Jammu and Kashmir82465143127 Punjab61094306162 Kerala5205304826 Chhatisgarh3161252614 Uttarakhand3093250242 Jharkhand2739203514 Goa16848256 Tripura155812021 Manipur13256670 Himachal Pradesh104871510 Puducherry94644814 Nagaland5782280 Chandigarh4663956 Arunachal Pradesh252751 Mizoram1601230 Sikkim101520 Meghalaya50421
  Business   In Other News  06 Nov 2019  PMC Bank: Withdrawal limit raised to Rs 50,000

PMC Bank: Withdrawal limit raised to Rs 50,000

THE ASIAN AGE. | FALAKNAAZ SYED
Published : Nov 6, 2019, 1:25 am IST
Updated : Nov 6, 2019, 1:25 am IST

The RBI has also allowed PMC Bank account holders to withdraw money from the bank's own ATMs within the prescribed limit of Rs 50,000.

This is the fourth time that the regulator has increased the withdrawal limits since it clamped down on the bank on September 23 and capped withdrawal limit at Rs 1,000 per customer for six months. (Photo: PTI)
 This is the fourth time that the regulator has increased the withdrawal limits since it clamped down on the bank on September 23 and capped withdrawal limit at Rs 1,000 per customer for six months. (Photo: PTI)

Mumbai: The Reserve Bank of India (RBI) on Tuesday raised the withdrawal limit for account holders of crisis-hit Punjab and Maharashtra Co-Operative Bank (PMC Bank) to Rs 50,000 from the earlier limit of Rs 40,000. With the higher limit, more than 78 per cent of the depositors of the bank will be able to withdraw their entire account balance, the RBI said in a statement.

“The RBI 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 50,000 inclusive of Rs 40,000 allowed earlier,” the RBI said in a statement.

 

The RBI has also allowed PMC Bank account holders to withdraw money from the bank's own ATMs within the prescribed limit of Rs 50,000. “This is expected to ease the process of withdrawals,” RBI added.

This is the fourth time that the regulator has increased the withdrawal limits since it clamped down on the bank on September 23 and capped withdrawal limit at Rs 1,000 per customer for six months.

Meanwhile, angry PMC Bank account holders held a dharna outside the central bank’s office at Bandra Kurla Complex in Mumbai asking it to apprise them on a daily basis on the developments taking place in the PMC Bank case.

Tags: pmc bank