Mumbai Police detains PMC Bank depositors amid protest against FM

On Tuesday, Mumbai Police detained Punjab and Maharashtra Co-operative (PMC) Bank depositors who were protesting near Bandra Kurla Complex against Finance Minister Nirmala Sitharaman, demanding return of ir savings. Finance Minister was attending an event as a chief guest in NSE (National Stock Exchange) building in complex.

PMC Scam claims 9th life

protest came after ar PMC Bank depositor - Andrew Lobo - passed away even as Bombay High Court on Monday asked Reserve Bank of India (RBI) to file an affidavit by vember 13 listing steps to prevent furr dam to depositors. Lobo, a senior citizen was a customer of Mulund branch. As all his Fixed Deposits were in PMC Bank, Lobo was said to be in tension as he desperately needed money for his treatment. His death marks 9th such instance since revelation of PMC Bank scam when a depositor has lost his life due to inability to withdraw money.

Bombay HC hears plea

A division bench of Bombay High Court comprising of Justices S Dharmhikari and R Chagla is hearing pleas filed by PMC Bank depositors, challenging RBI’s restrictions on withdrawals. court me it categorically clear that it did t wish to interfere in matter if RBI gave a reasonable explanation. Maintaining that RBI was an expert body on such issues, High Court bench indicated that it did t want to dilute RBI’s authority. next date of hearing will be vember 19. Depositors sought hearing being fast-tracked.

RE | PMC Bank depositors request Bombay HC to fast-track case hearing

RE | PMC Bank: Delhi HC seeks RBI reply on PIL against withdrawal limit

Customers st protest

Despite Finance Minister Nirmala Sitharaman's assurance that she h spoken to RBI Goverr, it has failed to pacify customers of PMC bank. y have been severely affected by  monthly withdrawal limit being slashed to Rs. 40,000. Hundreds of aggrieved people have std protests for more than a month. ir principal demands are return of ir hard-earned money stuck in banks.

RE | PMC Bank Crisis: Police agree to RBI's request to auction HDIL assets

RE | PMC scam claims 9th life even as Bombay HC asks RBI to file affidavit

(With ANI inputs)