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These reports revealed persistent non-compliances and continued material supervisory concerns in the bank, warranting further supervisory action, the RBI said in a statement.
“No further deposits or
The central bank further said withdrawal or utilisation of balances its customers from their accounts including savings bank accounts, current accounts, prepaid instruments, FASTags, National Common Mobility Cards are to be permitted without any restrictions, up to their available balance.
The RBI in March 2022 had directed PPBL to stop onboarding new customers with immediate effect.