{"id":220511,"date":"2019-10-04T14:00:24","date_gmt":"2019-10-04T08:30:24","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=220511"},"modified":"2019-10-05T17:19:25","modified_gmt":"2019-10-05T11:49:25","slug":"reserve-bank-enhances-withdrawal-limit-for-depositors-of-punjab-and-maharashtra-cooperative-bank-ltd-to-%e2%82%b9-25000","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/04\/reserve-bank-enhances-withdrawal-limit-for-depositors-of-punjab-and-maharashtra-cooperative-bank-ltd-to-%e2%82%b9-25000\/","title":{"rendered":"Reserve Bank Enhances withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank Ltd to Rs 25,000"},"content":{"rendered":"

It may be recalled<\/a> that the Reserve Bank of India had permitted the depositors of Punjab and Maharashtra Cooperative Bank Ltd to withdraw up to Rs 10,000\/- (Rupees Ten Thousand Only) of the total balance in their accounts.<\/p>\n

The Reserve Bank of India again reviewed the bank\u2019s liquidity position and, with a view to reducing the hardship of the depositors, has decided to further enhance the limit for withdrawal to Rs 25000 (Rupees Twenty Five Thousand Only).<\/p>\n

With the above relaxation, more than 70% of the depositors of the bank will be able to withdraw their entire account balance. The Reserve Bank is monitoring the position of the bank and will continue to take necessary steps in the interest of depositors.<\/p>\n

The Reserve Bank has also decided to appoint a Committee of three Members in terms of Section 36AAA(5)(a) read with Section 56 of the Banking Regulation Act 1949, to assist the Administrator of Punjab and Maharashtra Cooperative Bank Ltd.<\/p>\n

\n

Reserve Bank of India<\/strong><\/p>\n

[Press Release dt. 03-10-2019]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

It may be recalled that the Reserve Bank of India had permitted the depositors of Punjab and Maharashtra Cooperative Bank Ltd to <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8051,2],"tags":[],"class_list":["post-220511","post","type-post","status-publish","format-standard","hentry","category-business_news","category-news"],"yoast_head":"\nReserve Bank Enhances withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank Ltd to Rs 25,000 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/04\/reserve-bank-enhances-withdrawal-limit-for-depositors-of-punjab-and-maharashtra-cooperative-bank-ltd-to-\u20b9-25000\/\" 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October 14, 2019, had permitted the depositors of Punjab and Maharashtra Cooperative (PMC) Bank Ltd. to withdraw up to Rs 40,000\/- (Rupees Forty Thousand Only) of the total balance in their accounts. The Reserve Bank of India, after reviewing\u2026","rel":"","context":"In "Business News"","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":220874,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/15\/reserve-bank-enhances-withdrawal-limit-for-depositors-of-punjab-and-maharashtra-cooperative-bank-ltd\/","url_meta":{"origin":220511,"position":1},"title":"Reserve Bank enhances withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank Ltd.","author":"Bhumika Indulia","date":"October 15, 2019","format":false,"excerpt":"It may be\u00a0recalled that the Reserve Bank of India on October 03, 2019 had permitted the depositors of Punjab and Maharashtra Cooperative Bank Ltd. to withdraw up to Rs 25,000 (Rupees Twenty Five Thousand Only) of the total balance in their accounts. The Reserve Bank of India, after reviewing the\u2026","rel":"","context":"In "Business News"","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":220085,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/09\/26\/rbi-increases-withdrawal-limit-for-pmc-bank-from-rs-1000-to-10000\/","url_meta":{"origin":220511,"position":2},"title":"RBI increases withdrawal limit for PMC Bank from Rs 1,000 to 10,000","author":"Bhumika Indulia","date":"September 26, 2019","format":false,"excerpt":"Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) \u2013 Punjab and Maharashtra Cooperative Bank Limited, Mumbai, Maharashtra - Relaxation in withdrawal limit of Deposit Accounts Punjab and Maharashtra Cooperative Bank Ltd., Mumbai, Maharashtra, a Multi-State Urban Cooperative Bank has been placed under All-Inclusive Directions under sub-section (1)\u2026","rel":"","context":"In "Business News"","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":219936,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/09\/24\/directions-under-s-35a-of-banking-regulation-act-1949-aacs-punjab-and-maharashtra-cooperative-bank-ltd-mumbai-maharashtra\/","url_meta":{"origin":220511,"position":3},"title":"Directions under S. 35A of Banking Regulation Act, 1949 (AACS) \u2013 Punjab and Maharashtra Cooperative Bank Ltd., Mumbai","author":"Bhumika Indulia","date":"September 24, 2019","format":false,"excerpt":"The Reserve Bank of India (vide Directive dated September 23, 2019) has placed the Punjab and Maharashtra Cooperative Bank Limited, Mumbai, Maharashtra, under Directions. According to the Directions, depositors will be allowed to withdraw a sum not exceeding Rs 1,000 (Rupees one thousand only) of the total balance in every\u2026","rel":"","context":"In "Hot Off The Press"","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":227450,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/23\/rbi-extends-regulatory-restrictions-on-pmc-bank-for-a-further-period-of-3-months\/","url_meta":{"origin":220511,"position":4},"title":"RBI extends regulatory restrictions on PMC Bank for a further period of 3 months","author":"Bhumika Indulia","date":"March 23, 2020","format":false,"excerpt":"Punjab and Maharashtra Cooperative Bank Limited, Mumbai, Maharashtra, a Multi-State Urban Cooperative Bank was placed under All-Inclusive Directions under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949 with effect from close of business on September 23, 2019 vide\u00a0Directive DCBS.CO.BSD-1\/D-1\/12.22.183\/19-20 dated September 23,\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":231355,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/06\/25\/bom-hc-cancellation-of-ckp-co-operative-banks-license-is-in-depositors-interest-interim-relief-refused\/","url_meta":{"origin":220511,"position":5},"title":"Bom HC | Cancellation of CKP Co-operative Bank’s license is in depositors interest; Interim relief refused","author":"Bhumika Indulia","date":"June 25, 2020","format":false,"excerpt":"Bombay High Court:\u00a0A Division Bench of Nitin Jamdar and S.P. Tavade, JJ., held that Reserve Bank of India's decision to cancel the banking license of CKP Co-operative Bank Limited is not to be interfered with. Present petitions were filed challenging the respondents' -- Reserve Bank of India action wherein the\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/220511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=220511"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/220511\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=220511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=220511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=220511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}