On Thursday RBI increased the withdraw limit for PMC depositors to Rs 10,000 from the initial Rs.1,000 in 6 months.
Due to financial disturbances at the PMC bank in Mumbai, the RBI has stopped the account holders from giving more than Rs 1,000; which led to crowds at every branch of the banks, and the account holders also rallied.
The RBI on Tuesday blocked any Transaction dealings with the Mumbai-based Punjab and Maharashtra Co-operative (PMC) Bank Limited.
This caused a big shock to the bank’s investors and the business community in the city.
On Thursday, PMC Bank customers filed a joint police complaint against the bank’s chairman and directors for alleged misappropriation of funds of the depositors.