Apart from PMC Bank, the fate following nine lenders still hangs in balance. The directions date back several years, with depositors’ money locked in, mostly without any respite from RBI.
The Reserve Bank of India (RBI) imposed restrictions on the Punjab and Maharashtra Cooperative Bank (PMC) on September 24. The customers of the bank could withdraw only Rs 1000, which was relaxed to Rs 10,000 on September 26, from the bank due to the restriction. Here is a look at other cooperative banks that have been placed under restriction.