In September 2019, the RBI had superseded the board of PMC and placed it under regulatory restrictions, including cap on withdrawals by customers, after detection of certain financial irregularities and misreporting of loans given to real estate developer HDIL.source https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-says-engaged-with-prospective-investors-to-secure-best-terms-for-pmc-bank-depositors/articleshow/81711751.cms
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