RBI appoints AK Dixit as new administrator of PMC Bank

The Reserve Bank of India (RBI) has appointed AK Dixit (ex-general manager at Union Bank of India), as the new administrator of the Punjab and Maharashtra Co-operative (PMC) Bank. He has replaced JB Bhoria who has stepped down from his role as the administrator of the bank due to health reasons. In September 2019, the RBI had superseded the board of PMC bank due to fraud and financial irregularities in the PMC bank.

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