Delegation of PMC bank depositors meets Uddhav Thackeray

Mumbai: A delegation of Punjab and Maharashtra Co-operative (PMC) Bank depositors met Maharashtra Chief Minister Uddhav Thackeray at his residence Matoshree here on Sunday. Gurjyot Singh Keer, a delegation member of PMC Bank depositors after meeting Chief Minister Uddhav Thackeray said, "The Chief Minister has assured us that he is with us and he will meet us once again next week."

"He asked his management to look into the issue. We are confident that the Chief Minister will help us and we are thankful to him," he said."I am hopeful that the PMC bank will be revived in future and the depositors will get their money back," he added.

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.