Now, PMC withdrawal limit raised to Rs 50,000
"The RBI, after reviewing the bank's liquidity position and its ability to pay its depositors, has decided to further enhance the limit for withdrawal to Rs 50,000, inclusive of Rs 40,000 allowed earlier," the RBI said in a statement.
Depositors, though, say Rs 50,000 is too little. "Particularly so for senior citizens who have no other source of income and depend entirely on interest from their deposits. Look at the case of (late 74-year-old depositor) Andrew Lobo. We all knew he was in a critical condition, in need of a lung transplant. But despite having Rs 26 lakh in his account, he couldn't even pay for medicines," said Harpeet Singh Guleria, a jewellery shop owner with Rs 25 lakh in PMC Bank.
For 83-year-old heart patient Nanik Malkani, his worries are more over payment to his caretakers and nurse. "I need to pay their salaries. I have to buy medicines too. Roughly, my monthly expenses are Rs 30,000. I have deposits of Rs 1.5 crore but am unable to withdraw."
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