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PMC Bank Crisis: Depositors meets Maha CM Uddhav Thackeray


PMC Bank Crisis: Depositors meets Maha CM Uddhav Thackeray
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Consumers who have deposits in Punjab and Maharashtra Co-operative (PMC) Bank have been knocking on every door, which they think can be of any help to them. Sunday night, a delegation of PMC bank depositors also went to meet Maharashtra Chief Minister Uddhav Thackeray at his residence Matoshree.

The depositors had banners in their hand that read, “Please help the depositors” and were seeking his help in getting their money out from the scam-hit bank.

During the meeting, Chief Minister Uddhav Thackeray assured the investors that he will look into the matter and also shared that he will meet them in the coming week with an update. Post this, the investors seemed hopeful that something productive might come out in some time.

The Reserve Bank of India (RBI) had issued a notice to the bank to shut down its operations from September 23. Post this, an atmosphere of panic had spread amongst the PMC Bank account-holders as they were unable to withdraw their own money. Initially, RBI had set a withdrawal limit of Rs 1,000 per account holder. It has been reviewed many times till now the depositors can withdraw up to Rs 1,00,000 in case of a medical emergency and Rs 50,000 otherwise.

However, this has not stopped the investors in holding silent protests and demanding that they are allowed to access their funds. They have taken their plea even to Finance Minister Nirmala Sitharaman twice. Both the times the minister was in Mumbai for some work, the PMC bank holders organised protests and met with her and urged her to take the matter in her hand.

Despite the relaxation in the withdrawal limit, more than 10 people who had an account in PMC bank have lost their lives and claimed that it was due to the shortage of funds. The investigation, in this case, is still on and the key accused in this case include HDIL promoters and the top officials of the bank.

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