PMC Bank depositors hold protest outside RBI office in Mumbai

Oct 29, 2019

Mumbai, Oct 29 (ANI): PMC (Punjab and Maharashtra Co-operative) Bank depositors staged protest outside the RBI (Reserve Bank of India) office at BKC in Mumbai. The protestors raised slogans and held placards which read ‘punish the culprits, give our deposits’ and ‘we want justice’. Last month, the RBI restricted the activities of the PMC Bank for six months and asked it not to grant or renew any loans and advances, make any investment or incur any liability, including borrowing of funds and acceptance of fresh deposits after an alleged fraud of Rs 4,355 crore came to light.