Seeking their money, PMC Bank depositors protest again

Depositors of troubled Punjab & Maharashtra Cooperative (PMC) Bank protested against caps on withdrawals in financial capital on Tuesday. protest, anunced last weekend after a round of sit-ins outside RBI hequarters was held at Az Maidan, designated agitating place located t far off from central bank hequarters.

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PMC depositors protest 

At protest, agitated depositors reminded all of promise me by state chief minister Devendra Fnavis to look into ir issues immediately after polling was over and demanded measures. It can be ted that government is t able to make any anuncement due to model code of conduct, which was in place till Monday when votes were cast for Maharashtra Assembly.

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At protest outside RBI on Saturday, depositors h warned to intensify ir demands after elections are over. Over 16 lakh depositors having over Rs 11,000 crore of deposits have been impacted due to directions issued to bank by RBI, where deposit withdrawals were initially capped at Rs 1,000 and have w been increased to Rs 40,000.

Five of depositors have died, including one allegedly committing suicide, since restrictions were imposed. authorities blame a Rs 4,355-crore scam at lender, where manment allegedly connived with realty player HDIL. Five people have so far been arrested in case.

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