PMC Bank scam: FM gets RBI Guv's assurance- Customers 'top priority'

Finance Minister Nirmala Sitharaman stated on Saturday that Reserve Bank of India (RBI) Goverr, Shaktikanta Das, h assured her of keeping concerns of Punjab and Maharashtra Co-operative (PMC) bank customers as his top priority. She mentioned that she h spoken to him about PMC bank scam. Sitharaman also reiterated her ministry’s commitment to dressing all problems of aggrieved customers of PMC bank. She observed that ir grievances were justified. 

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Sitharaman's promise to speak to RBI Goverr

Before dressing a press conference at BJP office in Mumbai on Thursday, she h met protesting customers of PMC bank. Later, she said that she would speak to RBI Goverr and request him to allow PMC Bank customers to withdraw ir money as soon as possible. Sitharaman stated that she would convey sentiments of protesters to him.  

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She h said, “I have alrey been talking to Goverr of Reserve Bank. I have also told m, that on my return to Delhi this evening, I shall once again talk to him and convey sense of urgency and distress that clients of PMC have expressed before me. And I shall request him to expedite clearing of or giving permission for withdrawal of ir money which is deposited.” 

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PMC bank-HDIL 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. 

Vociferous protests 

customers of PMC bank have been severely affected in process. While 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 more than 19 days. ir principal demands are return of ir hard-earned savings stuck in bank and prosecution of culprits of scam. 

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