Lakshmi Vilas Bank placed under moratorium for 30 days; Here's how customers reacted to the news
By Lokmat English Desk | Updated: November 18, 2020 15:16 IST2020-11-18T15:15:34+5:302020-11-18T15:16:11+5:30
Following an application submitted by the Reserve Bank of India (RBI), the Central government on Tuesday brought Lakshmi Vilas ...
Lakshmi Vilas Bank placed under moratorium for 30 days; Here's how customers reacted to the news
Following an application submitted by the Reserve Bank of India (RBI), the Central government on Tuesday brought Lakshmi Vilas Bank under moratorium for 30 days, and restricted withdrawals by depositors to Rs 25,000 each.
The Centre issued the moratorium notification under Section 45 (2) of the Banking Regulation Act, 1949. The moratorium came into effect from 6 p.m. on Tuesday and will be in place up to December 16, 2020.
The notification also stays the commencement or continuance of all actions and proceedings against Lakshmi Vilas Bank.
A customer of Lakshmi Vilas Bank said he is worried as withdrawal limit is capped at Rs 25000 till Dec 16. "We know nothing will go wrong but Rs 25000 withdrawal limit is very less. RBI has to take some measures so our daily life is not affected," says Sunil, a customer.
Another customer in Rameswaram, Tamil Nadu said, "Rs 25000 withdrawal is difficult as it's a tourist spot. Request authorities to raise it"
While a customer of the bank, in Madurai, said "We were shocked. Withdrawal of Rs 25000 is inadequate during this time when people are in need of money."
Karnataka: Lakshmi Vilas Bank customers say they're worried as withdrawal limit is capped at Rs 25000 till Dec 16.
— ANI (@ANI) November 18, 2020
"We know nothing will go wrong but Rs 25000 withdrawal limit is very less. RBI has to take some measures so our daily life is not affected," says Sunil, a customer. pic.twitter.com/aQLEWJ3YOi
Tamil Nadu: Lakshmi Vilas Bank Ltd customers express distress as it's placed under moratorium for 30 days, withdrawal limit capped at Rs 25,000 till Dec 16.
— ANI (@ANI) November 18, 2020
A customer in Rameswaram says, "Rs 25000 withdrawal is difficult as it's a tourist spot. Request authorities to raise it" pic.twitter.com/o75vmcR5vd
Open in appTamil Nadu: Centre places Lakshmi Vilas Bank Ltd under a moratorium for 30 days, withdrawal limit capped at Rs 25,000 till Dec 16.
— ANI (@ANI) November 18, 2020
A customer of the bank, in Madurai, says, "We were shocked. Withdrawal of Rs 25000 is inadequate during this time when people are in need of money." pic.twitter.com/yDlgc7o1nS
