Janjivan Bureau / New Delhi :The Supreme Court on Friday SC refused to entertain a plea of Punjab & Maharashtra Cooperative (PMC) Bank account holders seeking lifting of restriction on cash withdrawals.
The court said the account holders can approach high court concerned for relief.
The RBI on Monday enhanced the withdrawal limit to Rs 40,000 per account from Rs 25,000 per account earlier for six months.
This was the third time the regulator has increased the withdrawal limit since it clamped down on PMC Bank on September 23, capping withdrawals at Rs 1,000 per customer, which led to a lot of distress and criticism.
The police had earlier pegged the scam at nearly Rs 4,500 crore and have already made a slew of arrests in the case, including the promoters of realty company HDIL the Wadhwans, and also the bank’s chief executive and managing director Joy Thomas and chairman Waryam Singh who are all behind the bars now.
