Flurry of worries for Punjab and Maharashtra Co-Operative Bank account holders after RBI announcement
Bank employees paste a closure notice issued by the RBI on a wall of Punjab and Maharashtra Cooperative Bank building, at Fort. Pic/PTI
Ranjeet Singh
Navi Mumbai's Harminder Kaur also cited the big C — standing for convenience, when asked about banking with PMB Co-Operative Bank. The Kamothe native said, "The long hours were a big draw. At any point in time, one would see substantial crowds inside the bank." She too expressed frustration over the '1,000 withdrawal limit. "In today's day and age, '1,000 will disappear in a day. My family has three accounts in the bank. All our money is stuck," she added. For Andheri's Ranjeet Singh, who visited the bank's Poonam Nagar (Andheri) branch yesterday morning, it was "a tumultuous Tuesday." He said, "I have been banking here for more than 20 years. When I reached the branch, there were crowds outside. Some customers were inside but the police were there too and the gates were closed."
Singh said he is now worried about how he was going to pay his children's fees. "My daughter is studying medicine. My son wants to become an engineer. The fees are high for both as you know," he stated. "My heart bled when I saw so many others outside the bank. There is a MHADA housing facility quite near this branch. Some depositors from there who banked here each had a few thousands in their account. They were weeping. It was wrenching," he said.
Rs 1,000
Amount customers can withdraw in six months
06
No. of months for which directives have been issued by RBI
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