India: RBI imposes restrictions on PMC Bank; withdrawal restricted to Rs 1,000 per account
Mumbai, Sep 24 (PTI) The Reserve Bank on Tuesday imposed operational restrictions on Punjab and Maharashtra Co-operative Bank (PMC Bank), resulting in chaos outside its branches in the financial capital.
As per the RBI directions to PMC Bank, withdrawals have been capped at Rs 1,000 per account and the bank is not allowed to make any fresh loans.