New Delhi: Mumbai Police on Sunday detained over 50 Punjab and Maharashtra Cooperative (PMC) Bank depositors for protesting outside Chief Minister Uddhav Thackeray’s residence in Maharashtra’s capital city, stated a report. Also Read - PMC Bank Case: EOW Arrests Three Directors, to be Produced in Mumbai Court on Dec 4
“More than 50 protesters, including some women, were detained and taken to Kherwadi and BKC police stations,” stated an official, as quoted by news agency ANI. Initially, nearly 500 PMC depositors had gathered outside an RBI office in the Bandra-Kurla Complex (BKC). Later, they assembled outside the gate of Thackeray’s residence ‘Matoshree’ in suburban Bandra and shouted slogans against the Reserve Bank of India in a bid to meet the chief minister. Also Read - PMC Row: Nearly 78% of Scam-Hit Bank Depositors Allowed to Withdraw Entire Balance, Says Nirmala Sitharaman
Thereafter, the Maharashtra chief minister met the delegation of PMC bank depositors, listened to their grievances and assured them of governmental assistance. “The government will take necessary steps to ensure justice to the bank depositors. My government will do all it can to cooperate with you,” Uddhav Thackeray told the delegation, as per news agency ANI. Also Read - PMCO 2019: Final lineup for the grand finals is now out
Since the last three months, the PMC depositors have been writing their woes on Prime Minister Narendra Modi’s twitter account but their miseries are yet to end, stated Preetpal Singh, a PMC bank depositor. Another depositor Vijayan Kurup said they will not oppose if the government decides to merge PMC with another bank. “We only want our money back,” added the bank’s depositor, as quoted by news agency ANI.
The PMC Bank, which has around 16 lakh depositors, was placed under an RBI administrator on September 23 for six months due to the massive under-reporting of dud loans. The bank, over a long period of time, had given more than Rs 6,700 crore in loans to the Housing Development and Infrastructure Ltd (HDIL), which is 73 per cent of its total advances, and which turned sour with a shift in the fortunes of the now-bankrupt company.Its total loans stand at around 9,000 crores and the deposits at over Rs 11,610 crore.
There have been massive protests across the city from the PMC Bank depositors following the RBI action. Twelve people, including top officials of the PMC Bank and HDIL, have so far been arrested by Mumbai Police’s Economic Offences Wing in connection with the scam. At least eight depositors, who had a high quantum of money stuck with the bank, died in the last couple of months, including one who committed suicide.
(With inputs from ANI)