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PMC Bank customers protest against RBI in Delhi
National

PMC Bank customers protest against RBI in Delhi

Agency News

New Delhi, Nov 6: The Punjab and Maharashtra Cooperative (PMC) Bank customers on Wednesday took out a protest march against the Reserve bank of India(RBI) in the National capital.

A group of PMC customers began their protest march from Patel Chowk metro station to RBI building here in a bid to gherao it. Holding placards and banners, the PMC Bank fraud victims were raising slogans against the government and the apex bank.

Demanding a return of their money, the PMC bank fraud victims called for an intervention of the Government into the matter. While talking to UNI during their march, one of the customers said, “We want our money back. It was our hard earned money. We request the government to intervene into it.”

In a major relief to depositors, the Reserve Bank of India (RBI) on Tuesday enhanced the withdrawal limit to Rs 50,000. Earlier, it had put a cap to Rs 40,000. On September 23, the RBI had barred the bank from carrying out any operations for the next six months. It had initially capped the deposit withdrawal at Rs 1,000 per account which was relaxed to Rs 10,000 in two days and then further increased to Rs 25,000 and later Rs 40,000.

The central bank’s action came after it found certain irregularities in the bank, including under-reporting of non-performing assets (NPAs) and large deposit withdrawals. (UNI)