By Kanishka Gupta Sept 26, 2019 6:38:37 AM IST (Updated)
Punjab and Maharashtra Cooperative Bank (PMC Bank) received a notice by the Reserve Bank of India (RBI) on September 24, stating the bank has been put under regulatory restrictions for a period of six months.
Mumba-based Punjab and Maharashtra Cooperative Bank (PMC Bank) received a notice by the Reserve Bank of India (RBI) on September 24, stating the bank has been put under regulatory restrictions for a period of six months.
It took not much time for the vexed customers to storm various branches of the bank, withdrawing their money and demanding an explanation from the PMC authorities.
In an attempt to avoid the furious customers, many of its officials opt not to be available at their respective branches and ATMs were shuttered down with security guards putting up an apology from the managing director.