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RBI increases withdrawal limit to Rs 40,000 for PMC Bank account holders

The RBI has raised the withdrawal limit for account holders of the PMC bank account holders to Rs 40,000 from an earlier withdrawal limit of Rs 25,000. With this relaxation, over 77% of the bank depositors can withdraw their account balance. The RBI said 'It closely monitoring the developments & shall continue to take necessary steps in the interest of the bank depositors'. This is the 3rd time RBI raised the withdrawal limits.