WEB DESK
Reserve Bank of India has informed that the license of Punjab and Maharashtra Co-operative Bank, PMC, has not been cancelled and they have not received any request for a merger of PMC bank with any of the nationalized banks. This was stated by the Minister of State for Finance Anurag Thakur in a written reply in the Lok Sabha today.
Mr Thakur said, as reported by the RBI, the total deposits with the bank as on 31st December 2019 were 10,629 crore rupees and an estimated loss of PMC bank as on 31st March 2019 was 892 crore.