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  • RBI appoints Jai Bhagwan Bhoria as administrator for PMC Bank

    Published on September 30, 2019

    The Reserve Bank of India has superseded the Board of Punjab and Maharashtra Cooperative Bank Limited, Mumbai and appointed Jai Bhagwan Bhoria as the bank’s administrator with all powers of the board.

    According to an official release, the amount of withdrawal from the bank allowed to depositors has been increased from one thousand to ten thousand rupees.

    The RBI’s directives will remain in force for a period of six months. The depositors can access the website <www.pmcbank.com> for any grievance redressal and call on a toll-free number  – 1800223993 – for enquiries.