Union Finance Minister Nirmala Sitharaman has given a written statement in the Rajya Sabha that consumers can withdraw up to 1 lakh rupees from PMC Bank. According to the Finance Minister, if a consumer wants money for running medical, education, marriage and daily bread, then he can withdraw up to 1 lakh rupees. Consumers of PMC Bank can currently withdraw up to Rs 50,000 under normal circumstances. About 78% of the customers benefited from this ceiling that their money is less than 50,000. It has been revealed in the RBI investigation that the PMC bank had given Rs 6,226 crore to HDIL, out of which only Rs 439 crore was given to RBI, the rest was hidden.
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On one hand, the Delhi High Court on Friday has asked the Central Government, Reserve Bank of India (RBI) and others to file replies on a petition. This petition has sought to give directions for redressal of some aspects, which include ensuring the money of depositors of Punjab and Maharashtra Co-operative (PMC) and preparing guidelines for the protection of deposited funds. | Chief Justice DN A bench of Patel and Justice C. Hari Shankar issued a notice to the Center and the RBI. The bench fixed the next hearing of the case on 22 January.
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The court is hearing public interest litigation, which has been filed by Delhi social activist Bejon Kumar Mishra. In his petition, Bezos sought to set up a high-power committee to regulate bank banks and oversee the overall functioning of cooperative banks. He demanded 100% insurance coverage on the money deposited in nationalized banks including various co-operative banks. He mentioned that Deposit Insurance and Credit Guarantee Corporation (DICGC) does not provide 100% insurance on all types of deposits like DICGC on savings deposits is a subsidiary of Reserve Bank of India.
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