It was placed under restrictions after investigations revealed that it was guilty of misreporting loans to Housing Development and Infrastructure Ltd (HDIL). The Reserve Bank of India had taken over the operations of the Punjab and Maharashtra Cooperative Bank, and had capped cash withdrawals and launched an investigation into its accounting lapses on 24 September 2019. We can go back to say we are stopping it as the actual take off is not much.' We just responded to the customers because there was so much interest.

Most people is ready to wait till the due date rather than take its upfront. Given the next five years, ₹2000 crore needs to be paid. “The number withdrawn is still below ₹100 crore. However, despite the strong interest for the OTS, there was not much demand for withdrawing deposits and the bank is set to close it after December this year, Bindra said. For the remaining amount, it would pay ₹50,000 above the payment already made by January 2023, followed by ₹50,000 by January 2024, ₹1 lakh by January 2025, ₹2.5 lakh by January 2026 and ₹5.5 lakh at the end five years (January 2027). Unity SFB will make payments of up to ₹5 lakh or less received from DICGC to the eligible depositors. According to the scheme of amalgamation of PMC Bank with Unity Small Finance Bank PMC Bank depositors will get their money back over a period of 3-10 years, and zero-interest payment against deposits for five years after 31 March 2021, and subsequently, a maximum of 2.75% interest on unpaid deposits.

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