{"id":221800,"date":"2019-11-05T17:05:01","date_gmt":"2019-11-05T11:35:01","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=221800"},"modified":"2019-11-05T17:05:01","modified_gmt":"2019-11-05T11:35:01","slug":"reserve-bank-enhances-withdrawal-limit-for-depositors-of-punjab-and-maharashtra-cooperative-bank-ltd-to-rs-50000","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/11\/05\/reserve-bank-enhances-withdrawal-limit-for-depositors-of-punjab-and-maharashtra-cooperative-bank-ltd-to-rs-50000\/","title":{"rendered":"Reserve Bank enhances withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank Ltd. to Rs 50,000"},"content":{"rendered":"<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"text-align: justify;\"><strong>It may be recalled that the Reserve Bank of India on 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.<\/strong><\/p>\n<p style=\"text-align: justify;\">The Reserve Bank of India, after reviewing the bank\u2019s liquidity position and its ability to pay its depositors has decided to further enhance the limit for withdrawal to Rs 50,000\/- (Rupees Fifty Thousand only), inclusive of Rs 40,000 allowed earlier. With the above relaxation, more than 78% of the depositors of the bank will be able to withdraw their entire account balance.<\/p>\n<p style=\"text-align: justify;\">It has also been decided to allow the depositors to withdraw from the bank\u2019s own ATMs within the prescribed limit of Rs 50,000. This is expected to ease the process of withdrawals.<\/p>\n<p style=\"text-align: justify;\">The Reserve Bank is closely monitoring the position and shall continue to take further steps as are necessary to safeguard the interest of the depositors of the bank.<\/p>\n<hr \/>\n<p><strong>Reserve Bank of India<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>[Press Release dt. 05-11-2019]<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>It may be recalled that the Reserve Bank of India on October 14, 2019, had permitted the depositors of Punjab and Maharashtra 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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. The Reserve Bank of India again reviewed the bank\u2019s liquidity position and,\u2026","rel":"","context":"In &quot;Business News&quot;","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":221800,"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 &quot;Business News&quot;","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":221800,"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 &quot;Business News&quot;","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":221800,"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 &quot;Hot Off The Press&quot;","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":378926,"url":"https:\/\/www.scconline.com\/blog\/post\/2026\/03\/20\/bom-hc-pmc-bank-unity-bank-amalgamation-upheld\/","url_meta":{"origin":221800,"position":4},"title":"Bombay HC affirms RBI\u2019s revival plan of Punjab and Maharashtra Co-operative Bank \u2014Unity Small Finance Bank amalgamation scheme","author":"Soumya Yadav","date":"March 20, 2026","format":false,"excerpt":"The Bombay High Court noted that RBI framed the PMC Bank\u2014Unity Bank amalgamation scheme during a period of severe financial stress for PMC Bank, and held that the measures, including depositor classification and reduced interest, were valid steps taken in public interest.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"PMC Bank Unity Bank","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/PMC-Bank-Unity-Bank.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/PMC-Bank-Unity-Bank.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/PMC-Bank-Unity-Bank.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/PMC-Bank-Unity-Bank.webp?resize=700%2C400&ssl=1 2x"},"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":221800,"position":5},"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 &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/221800","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=221800"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/221800\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=221800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=221800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=221800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}