Sanjay Nirupam slams Finance minister Nirmala Sitharaman amid PMC scam

senior Congress leer and former Member of Parliament Sanjay Nirupam on Friday slammed Finance Minister Nirmala Sitharaman amid PMC bank scam. Nirupam took to Twitter and said that Union government is unable to provide a bailout pack and help people affected by scam. This statement comes after Finance Minister Nirmala Sitharaman assured action in PMC bank fraud case in a press briefing.

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. 

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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."

Finance Minister asserted that she has asked secretaries of Ministry of Finance to work closely with concerned ministries in order to find out what went wrong. "I have asked secretaries of Ministry of Finance to work toger with rural development ministry and urban development ministry to study in detail as to what is happening, to understand as to where re were shortcomings and also to look at need for amendment in acts, if necessary," Nirmala Sitharaman said.

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PMC scam protests

Nirmala Sitharaman's press briefing was soon after protests std by victims, by barging inside BJP office in Mumbai. As PMC bank depositors entered office, a heated confrontation was witnessed between m and BJP workers at spot. Speaking to media, depositors demanded justice and sought assurance on ir savings from PMC bank.

Depositors of PMC Bank also protested outside Mumbai's Killa court on Wednesday, demanding stringent action against culprits, as police custody of three accused in Rs 4,355 crore scam at bank was extended till October 14. Esplane magistrate's court granted request of Mumbai Police's Ecomic Offences Wing for furr remand. Housing Development Infrastructure Ltd (HDIL) chairman and managing director Rakesh Whawan and his son Sarang were arrested in case last Thursday, while former chairman of PMC Bank Waryam Singh was held on Saturday.

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About 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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