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RBI taking necessary actions to provide relief to customers: Anurag Thakur on PMC Bank Case

Commenting on the ongoing protests by the account holders of the Punjab and Maharashtra Cooperative (PMC) Bank, Minister of State (MoS) for Finance Anurag Singh Thakur on Sunday said that the Reserve Bank Of India (RBI) is taking requisite steps to resolve the issue.


RBI taking necessary actions to provide relief to customers: Anurag Thakur on PMC Bank Case
MoS for Finance Anurag Singh Thakur speaks to ANI in Mumbai on Sunday [Photo/ANI]. Image Credit: ANI

Commenting on the ongoing protests by the account holders of the Punjab and Maharashtra Cooperative (PMC) Bank, Minister of State (MoS) for Finance Anurag Singh Thakur on Sunday said that the Reserve Bank Of India (RBI) is taking requisite steps to resolve the issue. "The RBI has now also increased the withdrawal amount for the depositors. Some of the customers of the bank can withdraw their entire amount under extra-ordinary circumstances such as marriage, medical treatment etc."

"The Economic Offense Wing has expedited the investigation into the matter. The probe officials have arrested the people found guilty and is thoroughly conducting further investigations," the Union Minister added. In the morning, several PMC Bank depositors protested outside RBI office in Mumbai. Women also came out in large numbers during the protest.

In September, the RBI had imposed regulatory restrictions on the PMC Bank for six months over alleged financial irregularities. The RBI had asked the bank not to grant or renew any loans and advances, make any investment or incur any liability, including borrower of funds and acceptance of fresh deposits.

Subsequently, the RBI capped the withdrawal limit for the PMC Bank depositors to Rs 1,000 which was gradually increased to Rs 50,000. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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