PMC Bank depositors hold protest outside RBI headquarters in Mumbai

Depositors of the scam-hit Punjab and Maharashtra Cooperative (PMC) Bank held a protest outside the Reserve Bank of India (RBI) headquarters in south Mumbai on Saturday.

The depositors gathered outside the RBI around 11.45 am and held protests by showing placards and chanting slogans against PMC Bank and the RBI, a police official said.

Police were deployed to avert any untoward incident, he said, adding that nobody has so far been detained or taken into custody.

After an alleged Rs 4,355 crore scam came to light at the PMC Bank, the RBI initially capped withdrawals at Rs 1,000 in view of liquidity crisis, and later hiked it to Rs 40,000 in three moves.

The depositors have been protesting to get their money back.