Withdrawal limit should be increased: Eknath Gaikwad on PMC Bank crisis

Mumbai (Maharashtra) [India], Nov 19 (ANI): Congress leader Eknath Gaikwad on Tuesday wrote a letter to Maharashtra Governor Bhagat Singh Koshyari over the PMC Bank crisis and suggested that the Reserve Bank of India should increase the withdrawal limit to Rs 2 lakh per month for saving account and Rs 5 lakh per month for current account.
"While the PMC Bank is not able to provide a solution to the problem, it is not willing to give any answers either. Those who depend on their PMC Bank accounts for going about their daily lives are left not only without access to their own money but also without any answers. This has also resulted in widespread distrust among the general public towards the banking system in India," Gaikwad wrote.
"16 lakh account holders of PMC Bank are under stress, and 11 of them have died due to shock and uncertainty. Account-holders demand arrest of all Directors of PMC Bank and also RBI auditors who overlooked this scam for 11 long years. Case of 'Dereliction of Duty' and negligence should be filed on RBI officials," he added.
Gaikwad said that Union Finance Minister Nirmala Sitharaman should discuss this issue with Prime Minister Narendra Modi and a "revival package or merger should be given to PMC Bank."
"Agencies like EOW have worked out this fraud to be of Rs 6,500 crore. Hence a minimum of Rs 4,000 crore should be infused by Union Home Minister. This amount can be compensated against the property/collateral security seized by EOW which amounts to Rs 6,000 crore," Gaikwad said.
"Not letting account holders withdraw their own legitimate money is a violation of our fundamental right protected by the Constitution of India... The withdrawal limit of RBI should be increased to Rs 2 lakh per month in saving account and Rs 5 lakh per month in the current account," he added.
"MRCC President Eknath Gaikwad along with senior leaders met Maharashtra Governor BS Koshyari today and submitted a memorandum on #PMCBankCrisis demanding: Merger/Revival package to Bank, Action on PMC Directors, RBI auditors, and Withdrawal from multiple accounts to be allowed," read a post on the official Twitter handle of Mumbai Congress.
Earlier this month, the Reserve Bank of India (RBI) had enhanced the withdrawal limit to Rs 50,000.
Hundreds of Punjab and Maharashtra Co-operative (PMC) Bank account holders protested outside the Bombay High Court here on Tuesday after it refused to interfere into an RBI order restricting the limit of money withdrawal.
The protestors, who have petitioned in the court seeking relief on withdrawal limit, expressed dissatisfaction "with the manner the court was handling the case".
During the course of hearing, the high court said the petitioners can go to the RBI to get Rs 50,000 withdrawal limit extended and refused to interfere into the RBI order. (ANI)