RBI Raises Withdrawal Limit For PMC Depositors To ₹50,000
The Hindu Business Line|November 06, 2019
The Reserve Bank of India has upped the withdrawal limit by ₹10,000 for the distraught depositors of scamhit Punjab and Maharashtra Bank Co-operative (PMC) Bank. The new withdrawal limit is now ₹50,000 of the total balance in their accounts.
RBI Raises Withdrawal Limit For PMC Depositors To ₹50,000

Bank’s liquidity position

To ease the process of withdrawal, the RBI has allowed the depositors to withdraw from the bank’s own ATMs within the prescribed limit of ₹50,000.

The RBI, in a statement, said the decision to further enhance the limit for withdrawal to ₹50,000, inclusive of ₹40,000 allowed earlier, was taken after reviewing the bank’s liquidity position and its ability to pay its depositors.

This is the third time the withdrawal limit has been increased since the bank was put under directions from the close of business on September 23.

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