Scam-hit PMC Bank Depositors To Aggravate Protest

Mumbai, October 24: The depositors of scam hit PMC (Punjab & Maharashtra Co-operative) Bank have decided to aggravate their agitation against the banking regulator the Reserve Bank of India (RBI). As a part of their renewed strategy, they’ll take out Women’s march on Friday October 25, 2019 from the OMC Bank’s Andheri (East) branch, a Mumbai suburb. PMC Bank Depositor’s Association has appealed to all the women depositors to participate in this march along with their children in big numbers and demonstrate “Naari Shakti”.

It may be recalled that majority of the depositors of the PMC Bank are from the Sikh and Sindhi community and they have coined a slogan for Friday’s march “Sadda paisa to vaapis lear rahenge”. Let the world see how *Reserve Bank of India* has brought *Ghar ki Laxmi* on streets to beg for their own hard earned and saved money”, said Vishwas Utagi, general secretary, PMC Depositors Association.

Earlier, this week the aggrieved depositors of the PMC Bank sought a resolution meeting with the RBI officials. A delegation of the protesting depositors, which was called by the RBI for a meeting, was reportedly assured of various options to revive the bank "as soon as possible".

“However, RBI officials informed the delegation that it was waiting for an internal inquiry report of the PMC Bank which is expected to be submitted by the weekend. That report will be discussed with the Governor who is currently abroad and likely to return this week before any final decision is taken," the PMC Bank Depositors' Association convenor Vishwas Utagi said. Though RBI officials said they would be making a media announcement in the matter soon, the agitating depositors served an ultimatum till 30 October to the RBI after which they would intensify their agitation, Utagi said.

Simultaneously pursuing the legal angles, Utagi filed a public interest litigation (PIL) and a writ petition on behalf of a school in the Bombay High Court on October 22.

This becomes the sixth PMC Bank-related death in the past 10 days, all victims from Mumbai, and many more depositors, especially senior citizens, are under great stress as the crisis continues to drag on, Utagi pointed out in last 10-12 days, following the news of PMC Bank hit by a scam came to light, 10 depositors have lost their lives, who have deposited and lost their hard earned money in the Bank.

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Scam-hit PMC Bank Depositors To Aggravate Protest

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