You are here: Home » Finance » News » Banks
Business Standard

400 depositors of scam-hit PMC Bank meet Mumbai police chief Sanjay Barve

The city police's Economic Offences Wing (EOW) is probing the alleged irregularities in grant of loans to certain corporate entities

Press Trust of India  |  Mumbai 

PMC Bank

Around 400 depositors of fraud- hit Punjab & Maharashtra Co-operative Bank (PMC) on Monday met Mumbai Police Commissioner Sanjay Barve and briefed him about problems being faced by them after the RBI put certain restrictions on the troubled lender.

According to Harbans Singh, one of the depositors who met Barve, the meeting lasted for around two hours.

"In the meeting, the commissioner assured us that the police will take every possible action to bring the culprits to book and recover the money of depositors," Singh said.

The city police's Economic Offences Wing (EOW) is probing the alleged irregularities in grant of loans to certain corporate entities.

The EOW has so far arrested five people, including promoters of realty group HDIL and top bank officials, in the alleged Rs 4,355-crore scam.

Barve assured the depositors, which included senior citizens, that the police will forward their grievances to the RBI and the bank administrator appointed by it, Singh said.

The police are doing their work and the depositors need not resort to agitation, Barve told the depositors, according to Singh.

Deputy Commissioner of Police (DCP) Pranay Ashok said, "We shared some information with the depositors regarding the case."

The was put under restrictions by the RBI in September after the alleged crore scam came to light. The deposit withdrawal was initially capped at Rs 1,000 and then raised in a staggered manner to Rs 50,000 per customer.

First Published: Mon, November 11 2019. 23:25 IST
RECOMMENDED FOR YOU