Punjab and Maharashtra Co-operative Bank (PMC Bank): Rs. 1 lakh withdrawal limit imposed by RBI

[Sushubh]

Punjab & Maharashtra Co-op (PMC) Bank Put Under Restrictions by RBI; Depositors can withdraw only Rs1,000

I wonder how long before Yes Bank customers like me would face the same

 

[Sushubh]

Explainer: What’s Sparking Panic at PMC Bank?

 

[Sushubh]

 

[ijsa]

At one place this guy says it will recover much faster after corporate tax cut and in second tweet he says it is nothing but bankruptcy...

Anyway what are safer bank options in this scenario

 

[Sushubh]

yes bank is definitely not safe. i opened a second bank account in indusind few days ago. plan to migrate to indusind slowly.

 

[IBF]

Source

 

[ijsa]

yes bank is definitely not safe. i opened a second bank account in indusind few days ago. plan to migrate to indusind slowly.

I will also move funds from YES Bank to Bandhan Bank. But then there are FD's which are not due yet.....

 

[Sushubh]

PMC Bank Crisis: Punjab & Maharashtra Co-operative (PMC) Bank collapses, locking people’s life savings

 

[Sushubh]

PMC Bank Crisis: Rs 2,500-cr exposure to HDIL pulled PMC down

 

[IBF]

Source