PMC Bank depositors continue protest seeking payback

Depositors of PMC Bank on Wednesday protested in financial capital, seeking an immediate payback of ir dues from troubled cooperative. protest, which came a day after a similar agitation, also exposed cracks within depositors, where two groups of leers seem to have emerged.

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PMC depositors protest at Az Maidan

Wednesday's protest at Az Maidan, designated protest ground in financial capital saw presence of Congress leer and party's spokesperson Charan Singh Sapra. Depositors assembled at a specially created pandal in ground from morning itself, but agitation fizzled out with police officials thwarting threats of a march to BJP office in afteron. Three of protesting members were detained by police and taken away.

"We have decided to go to Ecomic Offences Wing of Mumbai Police to seek officials and will continue with protest," Gurjyot Singh Keer, one of detained on Wednesday, said.

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He ded Congress leer Sanjay Nirupam is helping depositors with initiative at EOW, which is presently investigating case of cheating. EOW has arrested five, including three top officials of PMC and promoters of realty group HDIL, and pegged scam at Rs 4,355 crore. PMC officials are alleged to have colluded with Whawans, promoters of HDIL, to keep writing loans for realty developer or some dummy fronts floated by it over last nine years.

loans were allegedly hidden from RBI and central bank's supervision also failed to pick up scam for many years. RBI put bank under directions last month, after it became clear that bank h given over Rs 6,500 crore of its overall book of over Rs 9,000 crore to HDIL.

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As part of directions, deposit withdrawals were capped at Rs 1,000 per account and subsequently raised to Rs 40,000 after protests. RBI says 77 per cent of 16 lakh depositors can get a reprieve with Rs 40,000 limit. Five of depositors have died in last month, including one who has committed suicide. At least two dozen protests have been held by depositors across city. Many of distraught depositors sounded dejected on Wednesday, with solution in sight.

Inderjit Sachdeva on PMC Bank

"I came to Mumbai from Pakistan as a refugee and tough days we saw led us to save every penny we could. I am sdened that I chose PMC Bank and w, I do t kw as to when would I get money back," movie and atre personality Inderjit Sachdeva, far of actor Rajeshwari Sachdeva, said.
 

septunarian said most of protests are w going in vain and ditional efforts of moving around are going in vain.

RE: 37 Days On, PMC Bank Depositors' Quest For Savings And Justice Goes On