Bombay HC directs RBI to enlist steps taken to help PMC Bank Depositors

Omkar Gokhale November 4 2019

The Bombay High Court on Monday directed the Reserve Bank of India (RBI) to file an affidavit in pleas filed by depositors of Punjab and Maharashtra Cooperative Bank seeking to quash limits put on withdrawals for a period of six months.

A Division Bench of Justices SC Dharmadhikari and RI Chagla asked RBI to file a response enlisting necessary steps to prevent further damage to the depositors by November 13.

Senior Counsel Venkatesh Dhond, appearing for RBI submitted that . . .

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