PMC Bank scam: Despositors' woes mount as RBI Governor Shaktikanta Das​ abroad

Though RBI officials said they would be making a media announcement in the matter soon, the agitating depositors served an ultimatum till Oct.

Published: 22nd October 2019 10:20 PM  |   Last Updated: 22nd October 2019 10:20 PM   |  A+A-

RBI Governor Shaktikanta Das

RBI Governor Shaktikanta Das (Photo | PTI)


MUMBAI: The aggrieved depositors of the scam-hit Punjab & Maharashtra Cooperative Bank Ltd found no solution at a meeting with Reserve Bank of India (RBI) officials as the apex bank Governor Shaktikanta Das is currently touring abroad, representatives said here on Tuesday.

A delegation of the protesting depositors, which was called by the RBI for a meeting, was reportedly assured of various options to revive the bank "as soon as possible".

"However, RBI officials informed the delegation that it was waiting for an internal inquiry report of the PMC Bank which is expected to be submitted by the weekend. That report will be discussed with the Governor who is likely to return this week before any final decision is taken," the PMC Bank Depositors' Association convenor Vishwas Utagi told IANS.

ALSO READ: PMC Bank scam - Custody of HDIL's father-son duo extended, another depositor dies in Solapur

Though RBI officials said they would be making a media announcement in the matter soon, the agitating depositors served an ultimatum till Oct. 30 to the RBI after which they would intensify their agitation, Utagi said.

Simultaneously pursuing the legal angles, Utagi filed a public interest litigation and a writ petition on behalf of a school in the Bombay High Court today.

In another development, a 73-year-old woman, Bharati Sadrangani, the mother of a depositor living in Solapur, died on Sunday after her daughter reported saving of around Rs 2.25 crore stuck in the PMC Bank.

ALSO READ: 'What wrong did I do to beg for my own money?' PMC Bank depositors stare at uncertain future

Her Mulund-based son-in-law Chandan informed the media that she had been anxiously calling her family in Mumbai regularly enquiring about the status of the money and had collapsed after suffering a heart attack.

This becomes the sixth PMC Bank-related death in the past 10 days, all victims from Mumbai, and many more depositors, especially senior citizens, are under great stress as the crisis continues to drag on, Utagi pointed out.

Meanwhile, scores of PMC Bank depositors held another noisy protest in Mumbai today and have vowed to continue their demonstrations until the RBI or the government takes concrete measures to resolve the crisis on priority.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp