Congress seeks PMO's intervention to resolve PMC bank crisis in Maharashtra

The Congress in Maharashtra on Tuesday sought intervention of the Prime Minister's Office (PMO) in resolving the Punjab and Maharashtra Cooperative (PMC) Bank crisis. A delegation of leaders of the Mumbai Congress, led by city unit president Eknath Gaikwad, met with Maharashtra Governor Bhagat Singh Koshyari and submitted a memorandum of demands to him.

The Congress demanded arrest of all the directors of the bank as well as the RBI auditors "who overlooked the scam" for 11 years. The delegation also demanded merger of the PMC bank with a bigger bank and a revival package on the lines of nationalised banks.

They called for increasing the money withdrawal limit to Rs 2 lakh per month (from savings accounts) and Rs 5 lakh per month (from current accounts).

"You are being the Constitutional head of the state. I request you to kindly put forth our request and concern to Prime Minister Narendra Modi," Gaikwad stated.

He appealed to the Central government to take a sympathetic view towards the 16 lakh account-holders of the bank and their families.

Gaikwad also said that since the RBI has completed its investigation, it should hold a press conference and assure the account holders that their deposits are safe and secured.

The Economic Offences Wing (EOW) of the Mumbai Police is probing the alleged Rs 4355 crore scam in the bank. Nine people, including four top bank officials and two promoters of HDIL --Rakesh and Sarang Wadhawan, were arrested so far by the police.