Business Desk, Tech for FTCP, New Delhi
Updated Tue, 17 Nov 2020 08:17 PM IST
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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.