Depositors from the PMC and Sri Gururaghavendra cooperative banks protested near the RBI office in Bengaluru.
Bangalore:
A year after the central bank of India imposed regulatory restrictions on PMC Bank, its depositors and ALSO those of the beleaguered Sri Gururaghavendra Cooperative Bank protested near the RBI (Reserve Bank of India) headquarters in Bengaluru this morning demanding an intervention to withdraw all your funds. money, which is trapped in these financial institutions.
On September 23 last year, the RBI imposed restrictions on PMC Bank after learning of certain financial irregularities, concealment and incorrect disclosure of loans granted to real estate developer HDIL.
In January, the RBI began investigating the Sri Gururaghavendra Cooperative Bank for financial irregularities and imposed restrictions, which remain in effect. The withdrawal or depositors limit was Rs 35,000 announced in January and increased to Rs 1 lakh in June. Depositors lined up to withdraw their money eben amid the COVID-19 pandemic.
As the restrictions continue, depositors are protesting against, they say, a slow investigation, lack of political concern and RBI inaction on the matter.
“The crimes were committed by the management, but the depositors are the ones who suffer. This is an injustice … Most of the depositors are elderly people. Many of them have medical problems, children’s education, marriage … Their Daily survival has become a problem because they had put all their money in these banks and they are completely dependent on interest, “Harish, a depositor of the Sri Gururaghavendra Cooperative Bank, told NDTV.
He added that for the past nine months, many depositors have survived on only the lakh of rupees they were allowed, which is very difficult during the ongoing pandemic.
Taking the example of YES Bank, Mr. Harish said: “YES Bank was reactivated in a few days, but our audit has not yet been done, no politicians have looked in our direction or helped us. We cannot even buy our diabetes and Pills. BP. We want access to our hard-earned money. “
Another protester, VV Raghavan, representing PMC Bank depositors, said: “It is a shame for the RBI. When PM Modi and Ms Sitharaman said that YES Bank has to be revived, it was done in two days. The RBI must act and wipe our tears. “
The government, which is meant to work for the people, has not said anything so far; it must do something for people, said Manjula, another depositor.
On July 6, the former CEO of Sri Gururaghavendra Cooperative Bank MV Maiya was found dead of alleged suicide.
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