Points to Remember:
- The Reserve Bank of India has superseded the Board of Punjab and Maharashtra Cooperative Bank Limited, Mumbai and appointed Jai Bhagwan Bhoria as the bank’s administrator with all powers of the board.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.
- Headquarters: Mumbai, Maharashtra, India
- Established: 1 April 1935
- Governor: Shaktikanta Das
Important Possible questions based on above News:
- Who has been appointed as administrator for Punjab and Maharashtra Cooperative Bank Limited (PMC)? Jai Bhagwan Bhoria
- What is the full form of PMC Bank? Punjab and Maharashtra Cooperative Bank Limited