PMC(Punjab And Maharashtra) Bank has been put under regulatory restriction BY RBI(Reserve Bank Of India) under Section 35A of the Banking Regulation Act for a period of six months.

PMC bank has also been prohibited from making any type of investment and accepting fresh deposits without advance approval from the RBI. 

About PMC Bank

1. The PMC Bank was founded in Mumbai in 1984, is a multi-state urban co-operative bank.

2. The bank had deposits and advances averaging Rs 11,617 crore and Rs 8,383 crore respectively.  



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