RBI increases withdrawal limit from Rs 1,000 to Rs 10,000 for PMC Bank customers

RBI increases withdrawal limit from Rs 1,000 to Rs 10,000 for PMC Bank customers

RBI increases withdrawal limit from Rs 1,000 to Rs 10,000 for PMC Bank customers

Sep 27, 2019 Other by Ronak Kabra

RBI increases withdrawal limit from Rs 1,000 to Rs 10,000 for PMC Bank customers
The central bank has hiked withdrawal limit to Rs 10,000 from Rs 1,000.
In a relief for Punjab & Maharashtra Cooperative (PMC) Bank customers, the Reserve Bank of India today increased the withdrawal limit from Rs 1,000 to Rs 10,000.

“Other terms and conditions of the said Directive shall remain unchanged. With the above relaxation, more than 60% of the depositors of the Bank will be able to withdraw their entire account balance,” RBI said in a statement.

The above relaxation has been granted with a view to reducing the hardship of the depositors. The Reserve Bank is closely monitoring the position and shall continue to take further steps as are necessary to safeguard the interest of the depositors of the bank,” RBI said.

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