RBI increases withdrawal limit to Rs 10,000 for PMC Bank account holders

In a bid to provide relief to around 60 per cent of the 7 lakh customers of the Punjab and Maharashtra Co-operative (PMC) Bank, the Reserve Bank of India (RBI) has raised the withdrawal limit of the bank customers from Rs 1,000 in next six months to Rs 10,000. In another move, the apex bank of India decided to sack the Managing Director of PMC Bank George Thomas as well.