Utilise money from PM Relief fund to help PMC customers in emergency: Dr. Manmohan Singh to Modi government

Dr Singh further said that to resolve this issue the Finance Ministry can give directives to RBI as well

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Assuring the customers affected by the ongoing PMC bank crisis, Former Prime Minister Manmohan Singh on Thursday said that the issue will be raised in the winter session of the parliament this year while stating that he has full confidence in Reserve Bank of India to resolve this issue. 

I sympathise with the people who are facing problems due to the ongoing PMC bank crisis. I appeal to Chief Minister of Maharashtra, the Prime Minister of India and the Finance Minister to look into the matter and solve the problems of 16 lakh people,” said Dr Manmohan Singh.

Dr Singh further said that to resolve this issue the Finance Ministry can give directives to RBI as well. To relieve the customers who can’t withdraw their money for an emergency, the money from Prime Minister relief fund should be utilised. 

After the ₹4,355 crore scam surfaced related to PMC bank, the RBI imposed various restrictions on transactions. The PMC bank customers have been allowed to withdraw ₹40,000 only in a period.  

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