PMC Bank depositors News
PMC Bank depositors will now get up to Rs 5 lakh back from Nov 30
The govt has notified the amendment to the DICGC Act
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.
The Mumbai Police will now seek the court's approval to hand over the assets to the RBI administrator.
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