Depositors of PMC bank held a protest on Sunday in Mumbai. Photo/ANI
Depositors of PMC bank held a protest on Sunday in Mumbai. Photo/ANI

PMC bank depositors hold protest at Mumbai's Lokhandwala

ANI | Updated: Dec 22, 2019 18:08 IST

Mumbai (Maharashtra) [India], Dec 22 (ANI): A section of Punjab and Maharashtra (PMC) bank depositors on Sunday held a protest at Lokhandwala area in Mumbai.
The protesters raised slogans and were seen holding banners with messages such as - 'Save us, Help us', 'Waryam chor hai' etc. Waryam Singh is the ex-chairman of the PMC bank.
A delegation of depositors had met Maharashtra Chief Minister Uddhav Thackeray on December 15.
In September, the Reserve Bank of India (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. (ANI)

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