RBI extends restrictions on PMC Bank for 3 months till March 2022

RBI extended restrictions on Punjab and Maharashtra Cooperative (PMC) Bank for another three months.

The restrictions on Punjab and Maharashtra Cooperative (PMC) Bank has been extended for another three months till the end of March next year.

Reserve Bank of India (RBI) has extended the restrictions as further action on the draft scheme for the takeover of the crisis-hit bank by the Delhi-based Unity Small Finance Bank (USFB) is in process.