PMC Bank Crisis: RBI to take decision on October 30

The RBI told the protesters that due to the Code of Conduct for Maharashtra Assembly Elections being in effect, they were unable to make a decision

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The ongoing controversy surrounding the Punjab and Maharashtra Cooperative (PMC) Bank doesn't look to quiet down anytime soon as the account holders have been desperately attempting to receive the money deposited in the bank. As a result, the PMC Bank consumers protested against the bank as well as the Reserve Bank of India (RBI).

So far, the controversy has witnessed the death of five account holders. Owing to which, on Tuesday, a delegation 10 protesters had met RBI officials to take a decision on the issue. After which, the Reserve Bank of India officials announced that they will conduct a press conference addressing the issue and announce their decision for the same.

Also Read: PMC Bank Crisis: PMC Bank Depositors Protest At Azad Maidan

The RBI told the protesters that due to the Code of Conduct for Maharashtra Assembly Elections being in effect, they were unable to make a decision. Therefore, now the officials will call for a meeting on October 25 and 27 to decide how to resolve the issue. 

Previously, the bank's former Director Surjit Singh Arora was arrested by the Economic Offence Wing (EOW) of the Mumbai Police on Wednesday, October 16.  On Tuesday, the Mumbai Esplanade Court has extended the former director's police custody till October 24 for further investigation.

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