Mumbai-based Punjab and Maharashtra Co-operative Bank (PMC) Reserve Bank of India has imposed financial restrictions for six months. These restrictions are effective from 7 September. The Reserve Bank mentioned in its order that the bank was banned for the benefit of its customers, given the current state of the bank.
This action has been taken under the Banking Regulation Act '35A. There will be a restriction on lending and accepting deposits from PMC Bank. Also, during the ban, bank depositors can withdraw only one thousand rupees from all their accounts. RBI has said that there are restrictions on the bank that should not issue new loans, refinance old loans, make no investment, accept new deposits or pay for the repayment of bank loan, RBI approval Without it. These restrictions will be effective for six months and will be reviewed again. The Reserve Bank has been informed that it is mandatory for the bank to disclose these restrictions to every depositor.
Meanwhile, there has been uproar among the PMC depositors as they understood that the RBI has imposed restrictions. A huge crowd of customers was seen in front of the PMC bank branch in Andheri East, Mumbai. Congress leader Sanjay Nirupam gave this information via Twitter.
Because of this, people who have accounts in PMC BANK are nervous about those people who have their own money, is that money? Will we get it back or not? Many people are very upset and everyone is contacting their bank.
A large crowd of bank account holders has started gathering at the branches of PMC Bank of Mumbai and Thane Nashik, people have long queues of account holders outside all the branches inquiring about their money and any response from the bank. Not getting accounts, the holders have got a stampede, worry about whether they will get their money or not.
It is being said from the bank that in the next 6 months you can withdraw only 1000 rupees from the bank accounts, due to this a lot of people are having problems.
This action has been taken under the Banking Regulation Act '35A. There will be a restriction on lending and accepting deposits from PMC Bank. Also, during the ban, bank depositors can withdraw only one thousand rupees from all their accounts. RBI has said that there are restrictions on the bank that should not issue new loans, refinance old loans, make no investment, accept new deposits or pay for the repayment of bank loan, RBI approval Without it. These restrictions will be effective for six months and will be reviewed again. The Reserve Bank has been informed that it is mandatory for the bank to disclose these restrictions to every depositor.
Meanwhile, there has been uproar among the PMC depositors as they understood that the RBI has imposed restrictions. A huge crowd of customers was seen in front of the PMC bank branch in Andheri East, Mumbai. Congress leader Sanjay Nirupam gave this information via Twitter.
Because of this, people who have accounts in PMC BANK are nervous about those people who have their own money, is that money? Will we get it back or not? Many people are very upset and everyone is contacting their bank.
A large crowd of bank account holders has started gathering at the branches of PMC Bank of Mumbai and Thane Nashik, people have long queues of account holders outside all the branches inquiring about their money and any response from the bank. Not getting accounts, the holders have got a stampede, worry about whether they will get their money or not.
It is being said from the bank that in the next 6 months you can withdraw only 1000 rupees from the bank accounts, due to this a lot of people are having problems.
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