PMC Bank-HDIL scam has strong BJP links: Cong spokesperson

The multi-crore Punjab and Maharashtra Cooperative Bank scam has strong BJP links with 12 directors on the lender's board having connections to the ruling party, Congress national spokesperson Gourav Vallabh said here on Monday.

The EOW of Mumbai police is probing a Rs 4,355 crore scam at the bank over loans given to private firm HDIL.

Vallabh alleged that Rajneet Singh, son of BJP MLA from Mumbai's Mulund area Sardar Tara Singh, was one of the directors of the bank, and was also on the board of HDIL.

Incidentally, Tara Singh was denied a ticket for the 2019 polls scheduled for October 21.

Vallabh said directors of PMC bank should not be allowed to leave the country till the probe is completed.

He said a report on financial frauds in public sector banks for the first quarter of fiscal year 2019-20 put the number of cases at 2,480 and money involved at Rs 32,000 crore.

"Out of the 6.07 lakh defunct companies in India, 1.41 lakh are in Maharashtra. In Aurangabad, a city known for first generation entrepreneurs, around 50 per cent of MSMEs have shut down," he claimed.

Government schemes like Kaushal Vikas Yojana (Skill Development Programme) have failed as less than 12 per cent candidates in Maharashtra got jobs against national average of 26 per cent, he said.

Vallabh said the country's economy needed major surgery whereas the Centre was trying to apply balm thinking it is a common cold.