PMC Scam: 'Govt on its toes' says Finance Min; speaks to RBI Governor

Finance Minister Nirmala Sitharaman who assured action in PMC bank fraud case spoke to Governer of Reserve Bank of India (RBI), Shaktikanta Das, on October 14. depositors have been demanding ir money to be returned by bank and are also demanding that bail should be given to accused Housing Development and Infrastructure Ltd (HDIL) promoters, Sarang and Rakesh Whawan.

Nirmala Sitharaman stated that she is keeping up a rigorous follow up on case.

"I am closely monitoring it. Even this afteron I talked to Goverr of Reserve Bank of India. Governer has assured to keep interest of people and work towards providing money to customers."

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

'Government on its toes' 

She furr assured customers that government is vigilant and is making sure that promotors get ir savings.

"Government is on its toes bringing assets of promoters and making sure that process does t suffer to get assets which will help in paying customers."

Over continuing protests, Union Finance Minister Nirmala Sitharaman met PMC bank protestors on October 10 and heard ir complaints and demands.  "Finance Ministry may have thing to do with it (PMC bank matter) directly because RBI is regulator. But from my side, I've asked secretaries of my ministry to work with Rural Development Ministry and Urban Development Ministry to study in detail as to what is happening," she h said.

Last month, RBI h restricted activities of PMC Bank for six months and also barred it from granting or renewing any loans and vances, make any investment or incur any liability.

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PMC Bank 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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