RBI appoints Jai Bhagwan Bhoria as new administrator for PMC Bank
- The Reserve Bank of India (RBI) has superseded the Board of Punjab and Maharashtra Cooperative Bank Ltd. upon which RBI recently placed directions under section 35A of the Banking Regulation Act, 1949.
- RBI has appointed Jai Bhagwan Bhoria as the administrator of Punjab and Maharashtra Cooperative Bank Ltd. with all the powers of the board. RBI has restricted the withdrawal at Rs 10,000 for the customers of PMC Bank.
- Joy Thomas, who has been suspended as the managing director of PMC Bank. PMC Bank HQ- Mumbai
Points to remember:
- Who has been appointed as the as the new administrator for PMC Bank.
- Headquarters of PMC Bank Ltd.?