The latest update on PMC Bank Scam suggests that the Wadhwan brothers will sell off their expensive assets in order to pay off the debt they have defaulted with the bank.
Punjab and Maharashtra Co-operative Bank attracted restrictions from the RBI over violating the banking guidelines. The Central Bank had strictly mentioned the #PMC bank to allow amount withdrawal of not more than ₹1000 and also the bank won’t be able to get as well as give loans unless the #RBI provides a written approval on the same.
As per the latest news, #RBI has increased the withdrawal limit from Rs 10,000 to Rs 25,000. RBI said that this would cover around 70% of the PMC bank’s customers. #pmcbankcrisis. Now, the withdrawal limit has increased to 40,000 per account.
RBI also mentioned that investigation on #section35A of the Banking Regulation Act of 1949 with section 56 would continue.
Also, EOW arrested HDIL Directors Rakesh & Sarang Wadhawan.