PMC Bank | Additional Rs 50000 can be withdrawn for emergency: Somaiya

A day after PMC protestors met with RBI officials, BJP Maharashtra Vice -President Kirit Somaiya has stated that depositors of PMC bank have been allowed to withdraw an additional ₹50,000 medical/education urgency. This amount is reportedly in addition to the ₹40,000 withdrawal limit enforced by the PMC Bank. He added that those in need of the excessive funds has to apply to their respective bank branch.

Additional 50000 withdrawal for PMC: Kirit Somaiya

WATCH | PMC Bank Scam: Delegation of 10 protestors to meet RBI officials

RBI assures PMC protestors

This statement by the former Mumbai North-East Lok Sabha MP comes a day after a delegation of 10 depositors, who were protesting, met with RBI officials on Tuesday. The delegation was assured by the RBI assured the depositors that their money is safe. The central bank has also assured that they would provide relief to depositors and announce moves to tackle the issue between October 25 and 27.

READ | PMC Bank Scam: Fifth Life Lost Even As Depositors Protest For Justice

PMC protest as 5th victim dies

The protestors who were protesting at Azad Maidan in Mumbai moved towards the bank to put forth their demands, which includes a written assurance from the central bank, maximum by October 30. They have also demanded Rs 25 lakh as compensation for the kin of the customers who have lost their lives due to the crisis. Earlier on Monday a PMC bank depositor's mother Bharti Sadarangani passed away due to a heart attack. Apart from these, 4 other deaths related to the PMC Bank scam have already been reported. The delegation had put forth 19 points discussed with RBI including the above-mentioned demands.

WATCH | PMC bank account holders carry out protests outside RBI office

What is the PMC Bank Scam?

On September 21, the RBI took control of the bank for six-months. It had also capped withdrawals at ₹1,000 per account and the bank is not allowed to make any fresh loans for six months. The withdrawal limit has been increased to Rs. 40,000 as of Tuesday. After the takeover, PMC Bank had admitted that one large account-HDIL was the sole reason for the present crisis, as per PTI. Following this, the HDIL directors Sarang Wadhawan and Rakesh Kumar Wadhawan who had been arrested in connection with a fraud of over Rs 4,355 crores, have been sent to custody. According to the police, PMC Bank officials gave loans to HDIL between the year 2008 and August 2019 despite not paying the previous loans. The Wadhawans along with Waryam Singh- all HDIL promoters - and PMC bank's ex-chair Joy Thomas are being investigated. As of Friday, the SC too had refused to lift the RBI-sanctioned limits on withdrawal.

READ | PMC Scam Claims 4th Victim, Customer Dies Unable To Pay For Surgery