Exceptions can be carved out for medical and educational emergencies of PMC bank depositors: HC to RBI
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Exceptions can be carved out for medical and educational emergencies of PMC bank depositors: HC to RBIPTI
Last Updated: Jan 18, 2021, 07:33 PM IST
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A bench of Chief Justice D N Patel and Justice Jyoti Singh asked the depositors, whose needs have been highlighted before the court in a PIL, to once again approach the RBI-appointed administrator of PMC bank giving details of their financial needs along for medical or educational reasons within three weeks.
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NEW DELHI: The Delhi High Court on Monday said that according to the Supreme Court s decision on withdrawal of money by depositors of scam-hit PMC bank for exigencies, exceptions can be carved out for urgent medical and educational requirements.
Delhi HC directs PMC Bank to consider afresh applications of depositors seeking money for emergencies ANI | Updated: Jan 18, 2021 14:11 IST
New Delhi [India], January 18 (ANI): The Delhi High Court on Monday directed the administrators of Punjab and Maharashtra Co-operation (PMC) Bank to decide afresh about the applications of depositors seeking money for the medical and educational emergencies.
The court also directed the petitioner to submit the list of depositors before administrators, which included medical and educational emergencies within three weeks.
The Bench of Justice DN Patel and Justice Jyoti Singh said, We direct the depositors to approach the administrators of PMC Bank giving the need in detail, for which they would require the money. Administrator to decide within two weeks. They would inform the decision through an affidavit.
The Delhi High Court on Monday said that according to the Supreme Court's decision on withdrawal of money by depositors of scam-hit PMC bank for exigencies, exceptions can be carved out for urgent medical and educational requirements.
A bench of Chief Justice D N Patel and Justice Prateek Jalan had said that since the RBI has imposed withdrawal restrictions on the Punjab and Maharashtra Cooperative (PMC) Bank, the central bank should have been the one taking the decision on allowing disbursals on hardship grounds., , PMC Bank, Reserve Bank of India (RBI), COVID-19