Wait...
  1. Home >
  2. Export Import News >
  3. Economy News >
  4. Banking wrap: RBI hikes deposit withdrawal limit for PMC Bank customers; lenders count on realty fun

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Banking wrap: RBI hikes deposit withdrawal limit for PMC Bank customers; lenders count on realty fun


Date: 11-11-2019
Subject: Banking wrap: RBI hikes deposit withdrawal limit for PMC Bank customers; lenders count on realty fun
The Reserve Bank of India (RBI) increased the cash withdrawal limits to Rs 50,000 for customers of Punjab and Maharashtra Cooperative (PMC) Bank this week and ordered reopening of its ATMs after a gap of two months.

While the move would allow 78 percent of the bank's depositors to withdraw their entire balance, it is still a long way to go for other customers whose retirement savings or business accounts are locked up in the bank.

Here are some of the key developments from the banking sector, from the last week:

PMC Bank: RBI increases deposit withdrawal limit to Rs 50,000, reopens ATMs

RBI has increased deposit withdrawal limit for Punjab and Maharashtra Cooperative (PMC) Bank customers to Rs 50,000 from November 5. This includes the limit of Rs 40,000 that was relaxed earlier. The move will allow 78 percent of the bank's depositors to withdraw their entire account balance.

The Reserve Bank has also decided to allow depositors to withdraw cash from the bank's own ATMs within the relaxed limit of Rs 50,000.

Lenders count on government's realty fund for NPA relief

The Alternative Investment Fund (AIF), to be set up by the government to revive the housing sector, will come as a major relief to lenders that are looking to shed off bad loans stuck in stalled projects.


Deepak Parekh, chairman of Housing Development Finance Corporation (HDFC), said that some developers have been facing troubles only due to a slowdown in sales and had to be declared as NPAs.

Tepid demand forces ICICI Bank to shutter project finance division

Private lender ICICI Bank disbanded its project finance division in September, owing to lack of fresh demand for loans in the infrastructure sector, according to an official.

While the bank is still open to lending opportunities in the sector, it has reallocated the specialised staff to its larger wholesale banking vertical that caters to clients across sectors.

Bank of Baroda expects slippages to ease by March 2020

After reporting an uptick in slippages in the second quarter of current financial year, Bank of Baroda, India's second largest lender, expects asset quality to improve by the March-end.

The state-owned lender expects net non-performing assets (NPAs) to ease below 3.5 percent by March 2020 and slippages to be lower than levels witnessed in the second quarter.

Source: moneycontrol.com

Infodrive India Pvt Ltd

Delhi :
  E-2, 3rd Floor Kalkaji Main Road
      New Delhi 110019
   011 - 40703001

Kolkata :
  5th Floor Stesalit Towers,
      E-2-3, EP & GP Block,

      Sector-V, Salt Lake City,
      Kolkata-700 091
   033 - 71177191

INFODRIVE INDIA Copyright © 1996-2019 InfodriveIndia. All Rights Reserved.
Please read our Terms of Use and Privacy Policy before you use.

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+