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RBI extends regulatory restrictions on PMC Bank by 6 months till December

The extension has been announced to enable the PMC Bank's takeover by Centrum Financial Services.
RBI extends regulatory restrictions on PMC Bank by 6 months till December (Reuters)
RBI extends regulatory restrictions on PMC Bank by 6 months till December (Reuters)
Published on Jun 25, 2021 08:38 PM IST
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By | Written by Karan Manral | Edited by Avik Roy, New Delhi

RBI extends curbs on PMC till June end

The RBI had imposed restrictions on the multi-state cooperative bank in September 2019 after detecting financial irregularities. The RBI curbed all activities of PMC Bank, and appointed an administrator for the next six months.
The restrictions, including cap on withdrawal of money from customers’ accounts, were set to expire on March 31, 2021.(Photo: Reuters)
The restrictions, including cap on withdrawal of money from customers’ accounts, were set to expire on March 31, 2021.(Photo: Reuters)
Published on Mar 27, 2021 01:13 AM IST
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ByGopika Gopakumar, Mumbai
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Wednesday, June 29, 2022