In the last few years, due to increasing banking scam, the Reserve Bank of India (RBI) has increased its strictness on banks. Under this, the central bank has taken major action on the Punjab and Maharashtra Co-operative (PMC) bank. After this action, it will not be easy for the customers of the bank to withdraw money for the next 6 months.
Let’s know about RBI’s action ..
Actually, Punjab and Maharashtra Co-operative (PMC) Bank has been found guilty of violation of RBI rules. Due to this, the RBI has banned any type of business transaction on the bank. With this, no new fixed deposit account will be opened in the bank.
At the same time, the issuance of new loans of the bank has also been banned. Similarly, customers of the bank will not be able to withdraw more than 1000 rupees from savings, current or any other account for the next 6 months. RBI has also banned any kind of investment of the bank, accepting fresh deposits, etc.