Crisis-Hit Bengaluru Bank's Withdrawal Limit Increased

Crisis-Hit Bengaluru Bank's Withdrawal Limit Increased
In January this year, the Sri Guru Raghavendra Bank plunged into a crisis and the Reserve Bank of India (RBI) imposed a Rs 35 000 limit for withdrawals. This saw hundreds, many of them senior citizens, line up outside bank branches. The RBI has now increased the withdrawal limit to Rs 1 lakh. Hundreds of depositors, most of them senior citizens, queued up again amid the coronavirus pandemic to withdraw whatever money they could.

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June 23, 2020 at 10:53AM