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Withdrawal limit on PMC Bank hits Mumbai’s Gurdwaras

The withdrawal limit imposed on the PMC bank by RBI has hit the functioning of Gurdwaras here in Mumbai; adversely effecting the organisation of ‘Langar’; extending medical facilities to poor and other charitable and day-to-day routine works by them.

Gurmeet Seghal, Trustee of a Gurdwara, said: “I will not take the name of any Gurdwara but Langar is organized two times in which poor people have their meal. The Langar runs on the money that comes from Fixed Deposits (FD) in banks. Where the poor will go now?”

“Medical facilities extended by Gurdwara, the cost of books and fees of poor children, maintenance of Gurdwara; ‘Kirtan’ and all other expenses are from this money only. The 80 per cent of work of Gurdwara has been affected,” he said.

“Even taxi-driver will not ferry you and will not show any mercy if you say that you have an account in PMC bank and hence cannot pay. You will not get treatment in hospitals. The situation is worse,” he said.

The RBI on October 3 enhanced the withdrawal limit for the depositors of Punjab And Maharashtra Cooperative Bank Ltd to ₹ 25,000. The RBI had permitted depositors to withdraw up to ₹10,000 of the total balance in their accounts. Earlier the RBI had capped withdrawal limit at ₹1,000 but later on increased it to ₹10,000 per account.

PMC Bank is a multi-state scheduled urban cooperative bank with operations in Maharashtra, New Delhi, Karnataka, Goa, Gujarat, Andhra Pradesh, and Madhya Pradesh. With a network of 137 branches, it ranks among the top 10 cooperative banks in the country.

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