PMC Bank customer withdraw up to Rs 10,000

On Thursday RBI increased the withdraw limit for PMC depositors to Rs 10,000 from the initial Rs.1,000 in…

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. 

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