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Resource centre on India's rural distress
 
 

Customers mull legal action to revoke RBI order on PMC Bank, access funds

-The Hindu Business Line

Mumbai: Thousands of distraught customers of Punjab and Maharashtra Cooperative Bank gathered at the bank’s branches in Mumbai for a second day on Wednesday to protest against the Reserve Bank of India’s direction to impose restrictions on withdrawal amounts.

Some of them said they would initiate legal action.

“I had saved up for my daughter’s marriage in December, but my money is now stuck,” said Harshit Rane, a customer. “I have no option but to approach the courts.”

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