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PMC Bank customers can now withdraw up to Rs 40,000 as RBI enhances limit

Tuesday, October 15, 2019, 8:45 AM

The RBI has enhanced the withdrawal limit for customers for the beleaguered PMC Bank to Rs.40,000, a move the central-bank said will allow 77% of the bank's customers to withdraw their entire-account-balance. The RBI had earlier placed restrictions on the amount of money-customers could withdraw from their PMC-Bank-accounts after unearthing a-massive-fraud that put significant question marks on the bank's ability to pay its depositors.