Why RBI Imposed Restrictions On PMC Bank: Here’s Exact Reason

Updated On : 26 Sep,2019 | 11:22 AM

The Reserve Bank of India (RBI) has put limits on amount that can be withdrawn by depositors from the Mumbai-based Punjab and Maharashtra Cooperative Bank (PMC Bank). Customer can withdraw only Rs 1,000. The restriction came as a rude shock for account holders. News Nation learnt that RBI took the stern move as the bank did not apply NPA for a defaulter real estate company- HDIL. The real estate company took Rs 2,500 crore loan from the bank. Later the company was declared as a bankrupt. Watch the full report.

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