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Curbs on cash withdrawal from Global Trust Bank

MUMBAI, JULY 24. The Centre today issued an order of moratorium in respect of the crisis-ridden Global Trust Bank and specified that the depositors of the bank would be permitted to withdraw only up to Rs. 10,000 from their savings bank account or current account or any other deposit account through the branches of the bank.

At present, withdrawals through ATMs of the bank on ATMs shared with other banks will not be permitted, to give effect to the monetary ceiling prescribed in the moratorium. But customers can withdraw up to the limit specified at any of the banks' branches.

The moratorium will be effective from the close of business today (July 24) till October 23, or an earlier date, if alternative arrangements are in place.

"During this period, the Reserve Bank of India will consider the various options, including amalgamation of the Global Trust Bank with any other bank and finalise the plans in the public interest and with a view to ensuring that the public deposits are protected," the RBI said.

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