PMC Bank withdrawal limit increased to this amount - What account holders should know

Giving a respite to account holders of Punjab and Maharashtra Cooperative Bank Limited (PMC), RBI today decided to increase the daily withdrawal limit. The PMC bank customers will now be able to withdraw more than Rs 40,000 in a day. In case of medical emergency, the bank customers will be able to withdraw up to Rs 60,000, according to the RBI. Since the bank scam broke out, the aggrieved depositors have been carrying out a series of protests in Mumbai, besides lodging police complaints against the bank management.

The Reserve Bank of India (RBI) has also extended some other facilities, including wedding, senior citizen's expenses, education and additional expenditures and the bank customers will be able to withdraw extra Rs 50,000. The RBI will get the investigation report of PMC scam by end of this week.

In a related development,  a 73-year-old woman, Bharati Sadrangani, the mother of a depositor living in Solapur, died on Sunday after her daughter reported saving of around Rs 2.25 crore stuck in the PMC Bank, said an IANS report, adding that Sadrangani's Mulund-based son-in-law Chandan informed the media that she had been anxiously calling her family in Mumbai regularly enquiring about the status of the money and had collapsed after suffering a heart attack.

This has become the sixth PMC Bank-related death till Tuesday, all victims from Mumbai, and many more depositors, especially senior citizens, are under great stress in the wake of the bank scam.

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Meanwhile, scores of PMC Bank depositors held another noisy protest in Mumbai on Tuesday, and vowed to continue their demonstrations until the RBI or the government takes some concrete steps to resolve the crisis.