Points to Remember:
- The RBI increased the withdrawal limit for crisis-hit Punjab and Maharashtra Cooperative (PMC) Bank customers from 25,000 to 40,000.
- With this relaxation, about 77% of the depositors of the bank will be able to withdraw their entire account balance.
- The bank’s financial position has been substantially impaired due to fraud perpetrated on it by certain persons, RBI said.
RBI Policy Rates at a Glance:
- Policy Repo Rate: 5.15%
- Reverse Repo Rate: 4.90%
- Marginal Standing Facility Rate: 5.40%
- Bank Rate: 5.40%
- CRR: 4%
- SLR: 18.75%
Important Possible questions based on above News:
- As per RBI, what is the new withdrawal limit for the customers of scam- hit Punjab and Maharashtra Cooperative (PMC) Bank? 40,000
- What was the initial withdrawal limit set by RBI on the harried customers of PMC bank, which was subsequently raised to 10,000 and Rs 25,000 after protests? Rs 1,000