RBI Extends Restrictions On Scam-Hit PMC Bank Till June 30

In an order issued on March 26, RBI announced that the restrictions on withdrawals and deposits in the scam-hit Punjab and Maharashtra Cooperative Bank had been extended till June 30, 2021. The lender’s activity’s curbs were first placed in September 2019, after the central bank took cognizance of a major financial irregularity. The restrictions were consecutively extended and were set to expire on March 31, 2021.

Source: The Money Control

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