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Sikh community to set up a centre to help PMC Bank depositors
After the Reserve Bank of India (RBI) placed restrictions on the Punjab and Maharashtra Co-operative (PMC) Bank last month, members of the Sikh community have decided
After the Reserve Bank of India (RBI) placed restrictions on the Punjab and Maharashtra Co-operative (PMC) Bank last month, members of the Sikh community have decided to set up a centre to help depositors. In a meeting held on Wednesday, they also decided that eight board of directors of the bank from the community would be excommunicated.
On September 23, the RBI had restricted PMC Bank depositers from withdrawing more than ₹1,000, which was later revised to ₹10,000 and then further to ₹25,000.
“A centre will be set up at Guru Nanak Vidya Society at Koliwada in Sion, where depositors who have been affected by the restrictions can give their details and we will file a case on their behalf so that they can get their money back as soon as possible,” said Satnam Singh Dham, a member of the community who participated in the meeting.
Dham added that an 11-member team will be formed to decide on the further course of action. “Around 80-90% of people from Sion Koliwada have their accounts in PMC Bank. So we have to figure out a way to help them,” Dham added.
In a separate meeting on Tuesday, the Sri Guru Singh Sabha in Dadar, which is the apex body of the gurudwaras in the city, decided that its office-bearers would approach the RBI and the central government to look into the matter.
“We will leave no stone unturned to ensure that the depositers get their money back, as many have been severely affected due to the restrictions,” said an office-bearer of Sri Guru Singh Sabha.
On September 23, the RBI had put restrictions on the PMC Bank after it discovered several irregularities.
