RBI raises withdrawal limit to Rs 40,000 for PMC bank account holders

Reserve Bank has enhanced the withdrawal limit for the account holder of Punjab and Maharashtra Cooperative Bank or PMC Bank to 40 thousand rupees from 25 thousand rupees. This is the third time, RBI has raised the withdrawal limit since its clamp down on PMC Bank last month. In a statement, RBI said, after reviewing the bank's liquidity position and its ability to pay its depositors, it has decided to further enhance the limit. With the revised relaxation, about 77 per cent of the depo...