Atmadip Ray
economictimes.indiatimes.com/industry/banking/finance/banking/pnb-soothes-customers-no-cap-on-withdrawal/articleshow/63048656.cmsKOLKATA: Punjab National Bank Friday said that its business has been running smoothly and it has not restricted withdrawal from the bank.
There were reports in social media and other platforms that PNB has capped the withdrawal limit for a customer at Rs 3000, making customers nervous.
"It is absolutely incorrect, no such limit has been fixed by the bank and normal banking activities are going on," said the state-owned bank, which got entangled in the Rs 11,400-crore fraud involving its employees and diamond trader Nirav Modi.
The bank maintained it would honor all bonafide commitments while said there was no communication from Reserve Bank of India on this issue.
"The bank has the capacity and capability to handle the situation and protect the interest of the institution, customers and stakeholders," it said in a press statement.
It said that steps have been taken for protecting the financial interest of all the lenders/stakeholders including issuance of advisory to lenders involved.
The bank has also mentioned that it did not engage PwC to investigate into the alleged fraud as suggested by media reports.
PNB said the bank has recently transferred 1415 employees (257 sub staff, 437 clerks and 721 officers) and termed it a routine exercise and is not related to the fraud.
Some reports had suggested that Indian cricket captain Virat Kohli, who is the bank’s brand ambassador, might terminate his contract. "The same is totally false and incorrect," the bank said. 
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