Rbi Imposed One Month Moratorium on Lakshmi Vilas Bank, Cash Withdrawal Limit Will Be Rs 25,000

The RBI has imposed various restrictions on Tamil Nadu private bank Laxmi Vilas Bank for a month i.e. up to December 16. The bank's board has been superseded and has set withdrawal limits for customers. Customers will now be able to withdraw a maximum of 25 thousand rupees from the bank till December 16.

However, customers are exempted for certain conditions like treatment, depositing fees for higher education and marriage etc. Under this exemption, customers will be able to withdraw more than Rs 25 thousand with the permission of the Reserve Bank. Explain that earlier, the RBI had taken similar steps regarding Yes Bank and PMC Bank. Due to this, customers had to face a lot of trouble.

According to the Finance Ministry, a one-month moratorium has been imposed on Lakshmi Vilas Bank. It has been implemented from 6 pm on November 17 to 16 December. This order has been brought under Section 45 of the RBI Act.

The RBI has imposed various restrictions on Tamil Nadu private bank Laxmi Vilas Bank for a month i.e. up to December 16. The bank's board has been superseded and has set withdrawal limits for customers. Customers will now be able to withdraw a maximum of 25 thousand rupees from the bank till December 16.

However, customers are exempted for certain conditions like treatment, depositing fees for higher education and marriage etc. Under this exemption, customers will be able to withdraw more than Rs 25 thousand with the permission of the Reserve Bank. Explain that earlier, the RBI had taken similar steps regarding Yes Bank and PMC Bank. Due to this, customers had to face a lot of trouble.

According to the Finance Ministry, a one-month moratorium has been imposed on Lakshmi Vilas Bank. It has been implemented from 6 pm on November 17 to 16 December. This order has been brought under Section 45 of the RBI Act.