The Reserve Bank employees unions on Tuesday urged the government to hike the insurance cover on bank deposits from the present Rs 1 lakh to Rs 10 lakh.
In an affidavit filed in the HC in response to petitions challenging the fund withdrawal restrictions, the RBI has mentioned the withdrawal ceiling at Rs 50,000 for scenarios like marriage, education, livelihood and 'other hardships'.
RBI has been blaming banks for slower transmission of its policy moves into their lending rates and continuously nudging them to cut more, so that credit pick up can increase to help broader growth
The Economic Offences Wing (EOW) of Mumbai Police has arrested an auditor in connection with the alleged Rs 4,355 crore scam at the Punjab & Maharashtra Cooperative (PMC) Bank, an official said on Wednesday.
Two auditors were arrested on Monday night in connection with the Rs 4,355-crore alleged Punjab and Maharashtra Cooperative (PMC) Bank scam by the Economic Offences Wing (EOW) of the Mumbai Police, an official said.