PMC Bank Crisis: RBI Raises Withdrawal Limit

PUBLISHED ON: September 26, 2019 | Duration: 24 min, 12 sec

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The imposition of withdrawal limits at PMC Bank by the RBI has triggered a sense of panic not just among the cooperative bank's account holders but all consumers who have bank accounts at other lender. The most common concern being raised is: "If this can happen to them, can it happen to us as well." Consumers are asking why the Reserve bank of India could not detect the financial irregularity earlier. And the fundamental question: Was there no other alternative to this decision?
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