Depositors at PMC Bank survive on loans, charity

The Reserve Bank of India (RBI) took control of Punjab & Maharashtra Co-operative (PMC) Bank last September after it was accused of fraud and concealing non-performing loans. Depositors are forced to ask for loans and charity as the withdrawal cap is at Rs 1,00,000 per depositor. The situation at PMC has also amplified concerns over the health of other co-operative banks.

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