Reserve Bank partially relaxes restrictions on SBM Bank up to March 15
BENGALURU (Reuters) – The Reserve Bank of India (RBI) said on Tuesday it had decided to partially relax the restrictions on SBM Bank (India) up to March 15, by allowing ATM and point-of-sale transactions on internationally active debit cards issued by the bank.
Last week, the central bank had asked SBM to stop all transactions under the liberalised remittance scheme (LRS) until further notice.
(Reporting by Nallur Sethuraman in Bengaluru; Editing by Savio D’Souza)
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