PMC Bank withdrawal limit raised to Rs.25,000 from Rs.10,000: RBI
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New Delhi, Oct. 3 -- In a further relief to Punaj and Maharashtra bank customers, Reserve Bank of India (RBI) on Thursday increased the withdrawal limit to Rs.25,000 from Rs.10,000.
"The Reserve Bank of India again reviewed the bank's liquidity position and, with a view to reducing the hardship of the depositors, has decided to further enhance the limit for withdrawal to Rs. 25000," RBI said in a press release.
The new limit will allow 70% of the bank's depositors to withdraw all of their money, the central bank said in a statement, in a relief for customers caught unawares by the sudden curbs on the multistate cooperative bank.
RBI also said that it has decided to appoint a three-member committee to assist the RBI-appointed administra...
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