New Delhi: In a major development, Punjab & Maharashtra Co-operative (PMC) Bank account holders on Tuesday held a protest outside the Bombay High Court soon after the Reserve Bank of India (RBI) filed an affidavit regarding the necessary steps to be taken for protecting interest of customers before the Bombay HC. However, the matter in the case has been adjourned till December 4.
Last month, account holders of the PMC Bank also held a protest outside the RBI’s office in Mumbai, demanding an assurance from the Central bank that their money was safe with the crisis-ridden bank. They also demanded that their accounts be made operational.
After filing the affidavit, the RBI also provided a copy of it to the petitioners regarding steps to be taken for protecting the interest of customers.
The move from the RBI to file a detailed affidavit in the Bombay High Court came on a batch of petitions which were filed by the depositors of the PMC Bank, challenging the limit imposed by it on the withdrawal of money.
Earlier, the Bombay High Court had asked the RBI to file a detailed affidavit on the withdrawal limit imposed by it.
Pradnya Talekar, representing the petitioners in the case, had told ANI: “The petition was filed by three depositors of the PMC Bank challenging the directive of the RBI wherein limits were pressed on the withdrawal limits. They are not being allowed to access their own bank account due to the directives of the RBI.”
Earlier this month, the RBI, giving further relief to the depositors of crisis-ridden PMC Bank, had enhanced the withdrawal limit to Rs 50,000 from the earlier Rs 40,000.
The RBI had in September capped the deposit withdrawal at Rs 10,000 per account but later raised it to Rs 40,000.
After massive irregularities surfaced in the PMC Bank, the RBI in September this year had restricted the activities of the bank for six months and asked it not to grant or renew any loans and advances, make any investment or incur any liability after an alleged fraud of Rs 4,355 crore came to light.