RBI imposes restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow; withdrawals capped at Rs 1 lakh
In a statement, RBI said the Lucknow-based co-operative bank will not, without its prior approval, grant or renew any loans and advances, or make any investment.
NCUI hails merger of PMC BANK with Unity SFB; bats for security of depositors' moneyOn January 25, the union finance ministry had approved the merger of PMC Bank with Unity SFB, protecting it from liquidation and bringing relief to all stakeholders. In a statement, National Cooperative Union of India (NCUI) President Dileep Sanghani welcomed the merger of PMC Bank with Unity Small Finance Bank.
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