PMC Bank row: Depositors continue their protest in Mumbai
- 4 years ago
Punjab and Maharashtra Co-operative (PMC) Bank depositors staged a protest at Azad Maidan in Mumbai. They demanded the money to be refunded as soon as possible.
The protestors blamed RBI for the issue and chanted, “RBI chor hai"
Last month, the RBI restricted the activities of the PMC Bank for six months and asked it not to grant or renew any loans and advances, make any investment or incur any liability, including borrowing of funds and acceptance of fresh deposits after an alleged fraud of Rs 4,355 crore came to light.
The organisation had initially capped the deposit withdrawal at Rs 10,000 but later raised it to Rs 40,000. The Enforcement Directorate (ED) has seized and identified movable and immovable assets worth more than Rs 3,830 crore owned by HDIL in connection with the case.
For latest news follow www.deccanherald.com
The protestors blamed RBI for the issue and chanted, “RBI chor hai"
Last month, the RBI restricted the activities of the PMC Bank for six months and asked it not to grant or renew any loans and advances, make any investment or incur any liability, including borrowing of funds and acceptance of fresh deposits after an alleged fraud of Rs 4,355 crore came to light.
The organisation had initially capped the deposit withdrawal at Rs 10,000 but later raised it to Rs 40,000. The Enforcement Directorate (ED) has seized and identified movable and immovable assets worth more than Rs 3,830 crore owned by HDIL in connection with the case.
For latest news follow www.deccanherald.com