Latest News About Pmc Bank

PMC Bank scam: RBI increases withdrawal limit to Rs 40,000 per account; 77% of depositors covered

The Reserve Bank on Monday increased the withdrawal limits for depositors of the scam-hit Punjab & Maharashtra Cooperative Bank to Rs 40,000 from Rs 25,000 per account over the next six months

PMC Bank crisis: RBI hikes withdrawal limit from Rs 1,000 to Rs 10,000; over 60% depositors will be able to withdraw full amount

With this relaxation, more than 60 percent of the depositors of the PMC Bank will be able to withdraw their entire account balance.

RBI clampdown on PMC Bank: Central bank's action will have cascading effect on other co-op banks, erode customer confidence

PMC Bank, which is a multi-state co-operative bank with operation in at least six states, has also been barred from taking fresh liabilities and issuing loans without the RBI permission.

RBI places Mumbai-based PMC Bank under directions for 6 months; depositors cannot withdraw more than Rs 1,000

PMC cooperatve Bank will not, without prior approval in writing from the Reserve Bank, will be able to grant or renew any loans and advances, make any investment