With the above relaxation, more than 78 per cent of the depositors of the bank will be able to withdraw their entire account balance.
With this, about 77 per cent of the depositors will be able to withdraw their entire account balance, said RBI.
The PMC crisis has brought to the fore the need to increase the deposit insurance coverage provided by the DICGC.
More details awaited.
RBI has put on PMC strict restrictions including limiting withdrawals at Rs 10,000 and banning it from lending for next six months.
PMC Bank came under stress due to alleged financial irregularities forcing the RBI to impose restriction on it.
Co-operative bank reportedly lent Rs 6,500 crore to bankrupt real estate firm.
The admission came in after a board member leaked the actual balancesheet details to the RBI, said a source.
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