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78% Of PMC Bank depositors can withdraw entire money: Nirmala Sitharaman

78% Of PMC Bank depositors can withdraw entire money

Shortpedia

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Finance Minister Nirmala Sitharaman said on Monday that about 78% of PMC Bank's depositors are now allowed to withdraw their entire account balance. The Finance Minister's remarks came in the backdrop of a crisis at cooperative bank PMC in September, after which the Reserve Bank of India (RBI) restricted withdrawals from its accounts. The bank had used more than 21,000 fictitious accounts to hide loans it made.


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