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Letter to BS: Another scam unearthed, can we bank on bankers anymore?

The ordinary man has to keep his fingers crossed hoping his savings are safe

Business Standard 

PMC Bank, PMC bank crisis, PMC, PMC bank depositors, PMC bank depositors protest
PMC Bank Account Holders Protest at Azad Maidan in Mumbai on Tuesday 22nd Oct, 2019. KAMLESH PEDNEKAR.

Another major scam of over Rs 7,200 crore involving many nationalised banks has been unearthed. As many as 169 raids at various places are in progress, which amounts to shutting the door after the horse has fled the stable. How can the ordinary account holder have any sort of confidence in our banks? Most of the scamsters are absconding. In the Punjab & Maharashtra Co-operative Bank loot mela seven people have died. Who is responsible and accountable? Is the government happy by infusing funds into these banks? No wonder our economy is in the doldrums. Scamsters make hay as the government snoozes! The ordinary man has to keep his fingers crossed hoping his savings are safe.

Shanmugam, Pune


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First Published: Wed, November 06 2019. 22:20 IST
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