Mumbai, Sept. 26 -- The Reserve Bank of India (RBI)-appointed administrator of Punjab and Maharashtra Co-operative Bank Ltd (PMC), JB Bhoria, on Wednesday said his role will be to find out the extent of damage and take appropriate action. As an administrator, he will take over as the chairman of the board of directors. However, his powers in terms of running the business are limited, considering that the RBI has already put restrictions on the bank's business.

On Tuesday, the RBI capped the withdrawal amount from the cooperative bank at 1,000 per account for six months. The bank has also been banned from disbursing fresh loans or accepting deposits.

"We will have to find out whether we can take additional security from borrowers or whethe...