Anxious PMC Bank Depositors Conducted Rally Outside New Delhi RBI Office

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Rally Outside New Delhi RBI Office

A committee of the depositors met a senior executive of the Reserve Bank of India, who supported them efforts were on to discuss their query.

New Delhi: Anxious depositors of scam-hit PMC Bank on Wednesday held a day-long rally outside the RBI office here, demanding their “hard-earned” money be given back immediately.

A committee of the depositors met a senior official of the Reserve Bank of India, who assured them struggles were on to discuss their query.

Delhi citizen Rajinder Singh, who speaks, that he has a deposit of about Rs 20 lakh in the bank, said that officials must give them a period for a return of his amount.

Different investor Jagpreet Singh, holding three accounts in the bank told, most of the concerned individuals were senior residents who had settled in their life savings in the Punjab and Maharashtra Cooperative Bank.

The concerned account holders raised slogans towards the Reserve Bank, claiming that the central bank did not do its duty.

They also claimed political links after the scam.

Statutory inspection of PMC by the RBI showed big group exposure approaching Housing Development and Infrastructure Limited (HDIL) Group firms to the number of approximately Rs 6,226.01 crore (the whole of profit raised in the linked accounts).

Out of complete disclosure of Rs 6,226.01 crore as of end-March, 2019 to the HDIL group, only Rs 439.58 crore was exposed to the RBI and remaining Rs 5,786.43 crore settled undisclosed.

As of September 23, 2019 (date of imposition of RBI directions), the total accounts of the bank were 9,15,775.

Though, as on November 5, 2019, with the retraction limit being raised to Rs 50,000, nearly 78 percent of the customers will be capable to withdraw the complete value collected with PMC bank, thereby approaching depositors’ matter, Parliament was notified on Tuesday.

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