PMC Bank scam: ‘Trying best to return money’, says Mumbai’s EOW DCP after 3 die

With the Reserve Bank of India (RBI) placing withdrawal restrictions in Punjab and Maharashtra Co-operative (PMC) Bank following a 4,355 crore scam, at least three stressed account holders have so far died in Mumbai, according to agency reports. Two of the deceased PMC account holders were said to be distressed following the crisis and died of heart attack while the third one committed suicide. Last month, the RBI restricted the activities of the PMC Bank for six months and asked it to not grant or renew any loans and advances, make any investment or incur any liability, including borrowing of funds and acceptance of fresh deposits. The RBI has now increased withdrawal limits to ₹40,000, saying it will give relief to 77% of depositors. Mumbai's EOW DCP Shrikant Paropkari said he is trying best to ensure and return everyone's money.

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Wednesday, September 28, 2022
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