In a huge relief for the depositors of the fraud-hit Punjab and Maharashtra Cooperative Bank, "The Reserve Bank of India said, after reviewing the bank’s liquidity position and its ability to pay its depositors has decided to further enhance the limit for withdrawal to Rs 50,000/- (Rupees Fifty Thousand only), inclusive of Rs 40,000 allowed earlier. With the above relaxation, more than 78% of the depositors of the bank will be able to withdraw their entire account balance."
In a huge relief for the depositors of the fraud-hit Punjab and Maharashtra Cooperative Bank, "The Reserve Bank of India said, after reviewing the bank’s liquidity position and its ability to pay its depositors has decided to further enhance the limit for withdrawal to Rs 50,000/- (Rupees Fifty Thousand only), inclusive of Rs 40,000 allowed earlier. With the above relaxation, more than 78% of the depositors of the bank will be able to withdraw their entire account balance."
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