RBI increases PMC account withdrawal limit to Rs 1 lakh, extends restrictions by 6 months


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In a big relief for hundreds of its account holders, the Reserve Bank of India on Friday increased the withdrawal limit for depositors at the crisis-hit PMC Bank to Rs 1 lakh from Rs 50,000. The apex bank also extended the restrictions by another six months to December 23, 2020, as the resolution process of the lender has been affected by the COVID 19-induced lockdown, the RBI Bank said in a press release.