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PMC Bank mess: RBI hikes withdrawal limits for depositors to Rs 40,000

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The Reserve Bank of India (RBI) has enhanced the withdrawal limit for depositors of Punjab and Maharashtra Cooperative (PMC) Bank Ltd to Rs 40,000. On October 3, the RBI had permitted the depositors of the bank to withdraw up to Rs 25,000 of the total balance in their accounts. With the relaxation, about 77 per cent of the depositors of the bank will be able to withdraw their entire account balance, the statement said.

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