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Admin Reporter- Ajay

Nov 06 2019


RBI Increases Withdrawal Limit For Depositors Of Punjab And Maharashtra Cooperative Bank Limited

Delhi,06,November,2019

 

Reserve Bank of India has again raised the limit for withdrawal of funds from Punjab and Maharashtra Cooperative Bank ( PMC ) in six months. The RBI has now increased this limit from 40 thousand to 50 thousand. Please tell that after the irregularity is found in the bank, many types of restrictions have been imposed on it. The RBI has also raised the withdrawal limit several times .

 

 

The RBI imposed several restrictions on the PMC on 23 September . After this, for the fourth time the central bank has increased this withdrawal limit. The withdrawal limit was first fixed at Rs 1000. After this it was increased to 10,000, then to 25,000, 40,000 and now 50 thousand. Restrictions were imposed on the bank's operations and for misinforming the loans given to HDIL.

 

 

The bank had given a loan of 6,500 crore out of 8,880 crore to HDIL. This is about 73 percent of the total. This debt has been NPA for many years. The bank has been banned from accepting new deposits and lending. A former RBI official has been appointed as the bank's administrator.

 

 

Death of many depositors

 

People submitting at PMC are extremely upset. Case of death of eight account holders has been revealed one after the other. Not being able to withdraw the Jamapunji cost people life. A female doctor had allegedly committed suicide. A case of death of a depositor also came up on Tuesday. The family has said that the cause of death could not be spent on treatment.

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