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PMC Bank depositors hold protest outside RBI headquarters

PMC Bank crisis: The depositors gathered outside the RBI around 11.45 am and held protests by showing placards and chanting slogans against PMC Bank and the RBI, a police official said.

twitter-logo PTI        Last Updated: October 19, 2019  | 13:45 IST
PMC Bank depositors hold protest outside RBI headquarters
PMC Bank crisis: Depositor protest outside RBI/Picture for representational purpose

Depositors of the scam-hit Punjab and Maharashtra Cooperative (PMC) Bank held a protest outside the Reserve Bank of India (RBI) headquarters in south Mumbai on Saturday.

The depositors gathered outside the RBI around 11.45 am and held protests by showing placards and chanting slogans against PMC Bank and the RBI, a police official said.

Police were deployed to avert any untoward incident, he said, adding that nobody has so far been detained or taken into custody.

After an alleged Rs 4,355 crore scam came to light at the PMC Bank, the RBI initially capped withdrawals at Rs 1,000 in view of liquidity crisis, and later hiked it to Rs 40,000 in three moves.

The depositors have been protesting to get their money back.

Also read: PMC Bank scam: HDIL appoints Knight Frank for valuation of properties

Also read: PMC Bank scam: Joy Thomas allegedly gave Rs 10.5 crore cash to HDIL without entering in bank's records

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