PMC Bank crisis: Are cooperative banks being run without checks?

In a major relief to the hapless customers of the crippled Punjab & Maharashtra Cooperative (PMC) Bank, the RBI increased the cash withdrawal limit to Rs 10,000 per account-holder from Rs 1,000 set earlier, but retained the six-month curbs.

The regulator also said the relaxation in withdrawals will take care of over 60 percent of the customers of the cooperative bank focused on low-income customers.

Also, watch the exclusive interview with PMC Bank administrator appointed by RBI, JB Bhoria, on News Today.