 "Punjab and Maharashtra Co-operative Bank")
The Reserve Bank of India (RBI) has placed curbs on the activities of Mumbai-based Punjab and Maharashtra Cooperative Bank (PMC Bank) for six months following the revelation of alleged irregularities in certain loan accounts.
According to sources, one such account is of real estate player Housing Development & Infrastructure (HDIL).
The regulator has superseded the board and appointed a retired chief general manager of the central bank as an administrator for the troubled multi-state cooperative bank.
The RBI said a depositor would not be allowed to withdraw more than Rs 1,000 from a savings account, current account, or any other deposit account. The
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