Maharashtra CM Fadnavis assures PMC customers, says 'will speak to PM'

Chief Minister of Maharashtra Devendra Fnavis on Friday gave assurance to Punjab & Maharashtra Cooperative Bank (PMC) account holders amid PMC Bank scam. CM Fnavis said that account holders will get ir money and government will help m. He also mentioned that he will speak to Prime Minister Narendra Modi regarding this ongoing issue on October 13. CM Fnavis was dressing an election campaign in Thane.

Speaking to PMC account holders, CM said, "Investigation is going on. All of ir properties have been attached. I haven't me any statement on this yet as Mode of Conduct (MCC) is in place. I assure you that once polls are done on October 21, we will follow this up. PM Modi is going to be with us on October 13. I have a full te rey with me, I am going to brief him on same. It is because of MCC, I won't be briefing PM publicly. I won't let injustice happen to you under any circumstances. Don't worry. If your money is t safe for w, we will bring it back for sure."

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Earlier on Thursday, Finance Minister Nirmala Sitharaman assured action in PMC bank fraud case by speaking, Finance Minister also stated that she was t in a position to commit on timeline. dressing a press brief, Finance Minister stated that it is RBI that regulates cooperative banks, t government. 

She said, "As to when exactly money will be given, its t for me to take a call because re is somebody who is doing resolution, appointed by RBI and refore that is a process-driven exercise, which only regulator and resolution professional can take between mselves."

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What is scam?

police registered a First Information Report (FIR) against top officials of PMC Bank and promoters of Housing Development and Infrastructure Limited (HDIL). According to prosecution, bank continued giving loans to debt-ridden HDIL from 2008 to 2019 despite previous loans t being repaid. This caused a loss of nearly Rs. 4,355 crore. Several sections of Indian Penal Code (IPC) such as criminal breach of trust, cheating, and forgery have been invoked against accused. 

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Impact on customers  

customers of PMC Bank have been severely affected in process. While Reserve Bank of India (RBI) has increased monthly withdrawal limit per customer to Rs. 25,000 per month after public pressure, it has failed to pacify people. Hundreds of aggrieved people have std protests for last 18 days. ir principal demands are return of ir hard-earned money stuck in banks and prosecution of culprits of scam. 

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