अब आप न्यूज्ड हिंदी में पढ़ सकते हैं। यहाँ क्लिक करें
Home » Economy » Watch: Banks depositors panic as RBI bars PMC Bank from business transactions

Watch: Banks depositors panic as RBI bars PMC Bank from business transactions

The PMC Bank has been barred from granting, renewing and loans and advances, make any investments, accept fresh deposits, etc, without the prior written approval from RBI.

By IANS
Updated on :

Mumbai, Sep 24: The Reserve Bank of India has placed the Punjab & Maharashtra Cooperative Bank Ltd, Mumbai from carrying out any kind of business transactions, here on Tuesday, sparking panic among the banks depositors and sending shock waves in city trading community.

The apex bank’s Chief General Manager Yogesh Dayal said that as per the RBI directions, depositors cannot withdraw more than Rs 1,000 of the total balance in their savings/current/other deposit accounts.

The PMC Bank has been barred from granting, renewing and loans and advances, make any investments, accept fresh deposits, etc, without the prior written approval from RBI.

(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
(For more latest news and updates Like us on Facebook, Follow us on Twitter. Download our mobile app )

Related