Mumbai: PMC bank depositors hold protest at Azad Maidan

Scam-hit Punjab and Maharashtra Co-operative (PMC) Bank depositors held a protest at the Azad Maidan here on Wednesday.

"We are protesting against the government for our rightful demands. Six people have died but the government is deaf to our concerns. If it had been Ambani or Adani, the government would have reacted but since it is an issue of the common people, nobody is listening," Amit Kamra, a depositor told ANI.

"We have been on the road for more than 30 days. We want justice in this issue from the government," Ravinder Kaur, another depositor said.

Congress leader Charan Singh Sapra said that the government has been very insensitive while dealing with the problems of depositors in the PMC bank.

"The protest is now ongoing for more than 30 days. People are on the streets and the government is very insensitive in this matter," Sapra said.

"Decisions such as demonetisation and abrogation of Article 370, the government takes overnight. Whereas an instance in which more than 16 lakh depositors are affected, the government is mute and deaf," he added.

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.

The organisation had initially capped the deposit withdrawal at Rs 10,000 but later raised it to Rs 40,000.

The Enforcement Directorate (ED) has seized and identified movable and immovable assets worth more than Rs 3,830 crore owned by HDIL in connection with the case.