PMC Bank depositors detained while protesting outside CM Thackeray’s house

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Some of the depositors of the Punjab and Maharashtra Co-operative (PMC) Bank were detained by Mumbai Police on Sunday after they protested outside Matoshree, the residence of Chief Minister Uddhav Thackeray.
The depositors also held protests outside Reserve Bank of India (RBI)’s office in Mumbai, where people especially women were heard sloganeering- “We Want Justice” and were holding placards with Hindi slogans “RBI promise us to return our money”. Later, a delegation of the PMC Bank depositors met Maharashtra Chief Minister Uddhav Thackeray and apprised him about their concerns.
Some of the women protesters also used a copper plate and a wooden stick to create sounds in order to mark their protest.
In September, the RBI had imposed regulatory restrictions on the PMC Bank for six months over alleged financial irregularities.
The RBI had asked the bank not to grant or renew any loans and advances, make any investment or incur any liability, including borrower of funds and acceptance of fresh deposits.
Subsequently, the RBI capped the withdrawal limit for the PMC Bank depositors to Rs 1,000 which was gradually increased to Rs 50,000.

 

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TheDispatch Staff