Published On: Oct 14, 2019

The Reserve Bank of India hiked withdrawal limit for depositors of Punjab and Maharashtra Co-operative (PMC) Bank from Rs 25,000 to Rs 40,000. 'The Reserve Bank of India, after reviewing the bank’s liquidity position and its ability to pay its depositors has decided to further enhance the limit for withdrawal to Rs 40,000/-, inclusive of Rs 25,000 allowed earlier,' the central bank said in a statement. With the above relaxation, about 77 per cent of the depositors of the bank will be able to withdraw their entire account balance, the RBI said.  

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