The bank depositors of Punjab and Maharashtra Co-operative (PMC) met with Maharashtra Chief Minister Uddhav Thackeray at his residence Matoshree. “The Chief Minister has assured us that he is with us and he will meet us once again in next week,” said Gurjyot Singh Keer after meeting with Thackeray. “I am hopeful that the PMC bank will be revived in future and the depositors will get their money back,” also added.
In the month of September, the Reserve Bank of India (RBI) has imposed regulatory on PMC Bank for six months over alleged financial irregularities. Bank may not approve or grant any loans and advances, not to make any investment or incur any liability, including borrower of funds and acceptance of fresh deposits. Similarly, the RBI capped the withdrawal limit for the PMC Bank depositors to Rs 1,000 which was gradually increased to Rs 50,000.
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