Withdrawal limit of Rs 1L on PMC bank can't be increased due to lack of liquidity: RBI

It also told a bench of Chief Justice D N Patel and Justice Prateek Jalan that the insurance cover of Rs five lakh being provided to each depositor by the Deposit Insurance and Credit Guarantee Corporation (DICGC) -- a wholly owned subsidiary of RBI -- would be applicable only on cancellation of license of the bank which is not the case presently.

from Personal Finance News-Wealth-Economic Times https://ift.tt/3iBUhNw