PMC Bank scam: Depositors stage protest in Mumbai

Mumbai (Maharashtra) [India], Oct 22 (ANI): Many scam-hit Punjab and Maharashtra Co-operative (PMC) Bank account holders staged a protest at Azad Maidan here on Tuesday.

The protestors raised slogans and held placards which read 'Black Diwali, Save Us' and 'Innocents are losing life'.

"16 lakh families for the past one month have been requesting the government to give our money back and help us. Six people have died and one girl has committed suicide but the government is not taking us seriously. The government can take decisions overnight. The decision to cut the Aarey forest was taken overnight. The RBI officials should also be punished as they were auditing regularly and this scam has been happening over a period of 10 months," a protestor told ANI.

Kurjot Gill, another account holder said: "We are fighting for financial freedom here. The government should address our issues. We want our money back."

Jaimal Singh Pawar sat on a hunger strike demanding help from the government.

"I am on a hunger strike and will not end it till the government extends help to us. My family had an account in this bank including me. I am unable to take out my own money. We are tired of protesting every day, we want a complete decision today," said Pawar.

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 Housing Development and Infrastructure Limited (HDIL) in connection with the case. (ANI)