Court Upholds Legality of RBI's Cash Withdrawal Limits for PMC Bank to Address Depositor Hardships.

Restriction on cash withdrawal from the PMC bank - Legality and validity of directives issued by the RBI - The RBI has acted fairly, justly and reasonably in revising the limits on withdrawal from time to time. When the first limit of ₹ 1,000/- was placed, the RBI was aware of the hardship and difficulty of depositors. In a timely manner, it has stepped in to enhance the limit and which is now enhanced as aforenoted. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X