New Delhi: In a relief for the depositors of Punjab and Maharashtra Cooperative (PMC) Bank Ltd, the withdrawal limit has been increased from the earlier amount of Rs 25,000 to Rs 40,000. Notably, the Reserve Bank of India (RBI) has hiked the withdrawal limit for the third time this month.
Due to bad financial health of the bank, the central bank had imposed a limit of Rs 1,000 but later raised it to Rs 10,000 and then to Rs 25,000 in the wake of protests by the disgruntled customers.
Notably, Finance Minister Nirmala Sitharaman met RBI Governor Shaktikanta Das earlier in the day. “The RBI governor has assured me that he will keep the interest of customers in mind, and at the earliest try resolve it…I had a discussion with RBI Governor this afternoon and I am closely monitoring it,” she said.
On Saturday, Sitharaman said she had spoken to the RBI Chief and that she completely understood the worries of the bank customers.
Further, she ensured the customers that their concerns would be comprehensively addressed.
“Spoken to governor @RBI on the PMC Bank matter. He assured me that clients & their concerns will be kept on top priority. I wish to reiterate that @FinMinIndia will ensure that customers’ concerns are comprehensively addressed. We understand the justified worries of the customers,” Sitharaman had said in a tweet.
On September 24, the RBI restrained the PMC Bank from carrying out a majority of its routine businesses for a period of six months. This created huge panic among depositors, stunning the banking and corporate circles ahead of the festival season.