Union Finance Minister Nirmala Sitharaman met distressed customers of Punjab & Maharashtra Co-operative (PMC) Bank in Mumbai on Thursday and heard their woes after RBI imposed withdrawal limit. Following the meeting Sitharaman while addressing a press conference told reporters, "Finance Ministry may have nothing to do with it (PMC bank matter) directly because RBI is the regulator. The Reserve Bank of India (RBI) on October 3 enhanced the withdrawal limit for the depositors of Punjab And Maharashtra Cooperative Bank Ltd to Rs 25,000. Scores of Punjab Maharashtra Corporation bank account holders on Wednesday staged a protest in front of the Esplanade Court here. PMC Bank is a multi-state scheduled urban cooperative bank with operations in Maharashtra, New Delhi, Karnataka, Goa, Gujarat, Andhra Pradesh, and Madhya Pradesh.

Source: dna October 10, 2019 09:00 UTC