deposits from several cooperative credit societies in mumbai these societies have to mandatorily park their deposits with cooperative banks and many had chosen pmc given its healthy balance sheets and investment in technologywe assure depositors and wellwishers that this is temporary phenomenon our staff is confident that we will come out of this we have been given six months we are sure we will be able to come out before this time ceo thomas said in a statementpmc without prior approval in writing from rbi will also not be able to grant or renew any loans and advances make any investment incur any liability including borrowing funds and acceptance of fresh deposits disburse or agree to disburse any payment whether in the discharge of its liabilities and obligations rbi said in a statement it added that the move should not be seen as a cancellation of the banks licence