<p>The chief of the crisis-ridden PMC Bank regretted over the chain of developments and assured that the bank will be back in operations. </p>.<p>Beginning September 24, account holders at PMC Bank won't be allowed to withdraw amounts exceeding ₹1,000 a day for the next six months, according to an RBI directive.</p>.<p><strong>ALSO READ: <a href="https://www.deccanherald.com/business/business-news/rbi-curbs-withdrawals-over-rs-1000/day-at-pmc-bank-763589.html">RBI curbs withdrawals over Rs 1,000/day at PMC Bank</a></strong></p>.<p>"I regret to inform you that your PMC Bank has been put under regulatory restriction under Section 35A of Banking Regulation Act by RBI for a period of 6 months due to irregularities disclosed to RBI," PMC Bank managing director Joy Thomas said in a statement.</p>.<p>"As the MD of the Bank, I take the responsibility and assure all the depositors that these irregularities will be rectified before the expiry of 6 months. All efforts are made to remove the restrictions by rectifying the irregularities," he added.</p>.<p><strong>ALSO READ: <a href="https://www.deccanherald.com/business/business-news/chaos-among-depositors-as-pmc-bank-in-crisis-763594.html">Chaos among depositors as PMC Bank in crisis</a></strong></p>.<p>Extending an apology, he said: "I know it is a difficult time for all of you and any apology may not restore the pain you are undergoing. Please co-operate with us. We assure that we will definitely overcome this situation and stand strong."</p>
<p>The chief of the crisis-ridden PMC Bank regretted over the chain of developments and assured that the bank will be back in operations. </p>.<p>Beginning September 24, account holders at PMC Bank won't be allowed to withdraw amounts exceeding ₹1,000 a day for the next six months, according to an RBI directive.</p>.<p><strong>ALSO READ: <a href="https://www.deccanherald.com/business/business-news/rbi-curbs-withdrawals-over-rs-1000/day-at-pmc-bank-763589.html">RBI curbs withdrawals over Rs 1,000/day at PMC Bank</a></strong></p>.<p>"I regret to inform you that your PMC Bank has been put under regulatory restriction under Section 35A of Banking Regulation Act by RBI for a period of 6 months due to irregularities disclosed to RBI," PMC Bank managing director Joy Thomas said in a statement.</p>.<p>"As the MD of the Bank, I take the responsibility and assure all the depositors that these irregularities will be rectified before the expiry of 6 months. All efforts are made to remove the restrictions by rectifying the irregularities," he added.</p>.<p><strong>ALSO READ: <a href="https://www.deccanherald.com/business/business-news/chaos-among-depositors-as-pmc-bank-in-crisis-763594.html">Chaos among depositors as PMC Bank in crisis</a></strong></p>.<p>Extending an apology, he said: "I know it is a difficult time for all of you and any apology may not restore the pain you are undergoing. Please co-operate with us. We assure that we will definitely overcome this situation and stand strong."</p>
