PMC Bank- PIL on removing withdwaral restrictions listed in Delhi HC for Nov 1

According to the news, the PIL, stands for Public Interest Litigation is now removing the restrictions that were on the withdrawal from PMC bank is listed in Delhi High court. This PIL was actually originally filed by the activist named Mr Bejon Kumar Mishra on the orders of Supreme Court. On this, the advocate in support of Misra named Shashank Deo Sudhi said- “The SC declined to hear PMC matter on 18.10.2019 and suggested to approach concerned High court, Hence petitioner had filed this PIL which is listed for admission.”

The appeal is to pass the direction to quash the notifications on withdrawal limits by the RBI for the depositor of PMC. Also, the limit of withdrawal is capped at Rs 1000 for which 6 months and now it is raised to Rs 40,000.

Appeal is also for safeguarding the banking and co operative deposits and also constitute the committee for looking into the complete affairs of working and their operation among all the banks.

In the PIL, it is also given that providing the financial insurance according to the deposits of the depositors of Rs 100000 should be given. It should be given irrespective of any amount that has given to deposit.