PMC Bank collapse: Account holders rue they won't be able to celebrate Gurpurab, Diwali

It is the 550th birth anniversary of Guru Nanak Dev, an occasion of joy, but ever since the Punjab and Maharashtra Co-operative (PMC) Bank collapsed, the Sikh community people here have been left dejected.

Most of the PMC Bank account holders are Sikhs and they are facing a major cash crunch as the RBI has imposed restrictions on the withdrawal of cash from the bank. What further adds to their woes is the fact that they won't also be able to celebrate the festival of light -- Diwali -- with the usual enthusiasm.

"The PMC Bank is not cooperating with us. Guru Purb is around. We had planned so many things for that occasion but now we would not be able to celebrate our festival with the same amount of happiness," said an account holder of the PMC Bank.

"On this Diwali, PMC Bank holders won't even celebrate the festival with joy and happiness. People had saved money for weddings and festivals. Their money has now been blocked by the bank completely," he added.

The Sikh account holders have urged that a bailout plan should be out as early as possible as the 550th birth anniversary celebrations are a big thing for the community and not being able to celebrate it properly will be a big disappointment for them.

Raghuvir Singh, another PMC Bank account holder, told ANI: "I have an account in this bank for the last 16 years. Sikhs and their various organisations have accounts in the PMC Bank for years. Now, we will have to face major difficulties on the occasion of 550th birth anniversary of Guru Nanak Dev ji."

"Many people, who want to travel to Kartarpur on the occasion of Gurpurab, will have to think at least 10 times now before planning their pilgrimage due to cash crunch," he added.

Mohinder Singh, another account holder, said the bank should have intimated the account holders before completely shutting down its services.