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Detailed explanation-1: -Reserve Bank of India on Friday extended restrictions on crisis-ridden Punjab and Maharashtra Co-operative (PMC) Bank by three months till 31 March, 2021.
Detailed explanation-2: -RBI had imposed restrictions on the withdrawal of deposits from PMC Bank. The Reserve Bank of India (RBI) on December 28 extended the validity period of its directions imposed on Mumbai-based Punjab and Maharashtra Cooperative Bank (PMC Bank) from January 1, 2022, to March 31, 2022.
Detailed explanation-3: -"Further action with regard to sanction of the scheme is under process,” RBI said on Tuesday as it extended the restrictions for another three months till March 31, 2022, subject to review.
Detailed explanation-4: -The Reserve Bank of India (RBI) has extended the restrictions on Karnataka’s Millath Co-Operative Bank, Devangere, by another three months till May 7, 2022. “The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive DCBS.
Detailed explanation-5: -(PMC Bank) with Unity Small Finance Bank Ltd. (USFBL). The amalgamation will come into force with effect from the date of the notification of the scheme i.e. January 25, 2022. All the branches of the PMC Bank will function as branches of Unity Small Finance Bank Ltd.