Cong to move court against restrictions on PMC bank customers

Mumbai Congress President Eknath Gaikwad said that Congress will move to court against RBI's decision of withdrawal restrictions on Punjab and Maharashtra Cooperative Bank.

Mumbai: Mumbai Congress president Eknath Gaikwad on Friday said his party will move the court against the Reserve Bank of India's decision to impose withdrawal restrictions on customers of Punjab and Maharashtra Cooperative Bank.

Addressing a press conference here, Gaikwad said even though the RBI has increased the limit of withdrawal from the earlier Rs 1,000 to Rs 10,000, this was not enough in times of inflation and slowdown.

"We had sought an appointment with the RBI governor to discuss the hardships of 16 lakh account holders. But the appointment was denied at the last minute. We want the RBI to relax restrictions on customers to withdraw their own money," he said.