RBI further extends restrictions on PMC Bank for 3 months till 30 June 2021

Current GK ( Master) Banking Awareness

The Reserve Bank of India (RBI) has once again extended the restriction imposed on scam-hit Punjab and Maharashtra Cooperative (PMC) Bank for a further period of 3 months till June 30, 2021.
The restriction puts curbs on the withdrawals and deposits activity of the lender.
This restriction was first placed in September 2019, and since then has been consecutively extended.
The previous restriction was set to expire on March 31, 2021.