Mumbai | Jagran News Desk: Finance Minister Nirmala Sitharaman, who met a group of distressed customers of Punjab Maharashtra Co-operative (PMC) in Mumbai, said that she will speak with the RBI Governor this evening on the PMC Bank crisis.

“I will once again talk to the Governor of Reserve Bank this evening to convey the distress of PMC clients,” said Sitharaman while addressing a press conference on Thursday.

Sitharaman further said that the Finance Ministry has nothing to do with the case but she has asked the secretaries of the ministry to study in detail as to what is happening.

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“Finance Ministry may have nothing to do with it (PMC bank matter) directly because RBI is the regulator. But from my side, I've asked the secretaries of my ministry to work with Rural Development Ministry and Urban Development Ministry to study in detail as to what is happening,” she said.

“I've asked the secretaries of the ministry to study in detail as to what is happening. Representatives of RBI will also be there to understand shortcomings, what happened, and also to therefore, if necessary, look at the ways in which the respective Acts will have to be amended,” she added.

The PMC bank customers gathered outside the BJP office in Mumbai today. They argued that the revised Rs 25,000 limit on withdrawals imposed by the RBI is ‘too little’. The protesters also appealed PM Modi to look into the matter.

Meanwhile, the Economic Offences Wing of Mumbai Police last week arrested Joy Thomas, the suspended managing director of the PMC Bank. Thomas was summoned to the EOW office in Mumbai and arrested after questioning.
They also arrested the chairman and managing director of Housing Development and Infrastructure Ltd (HDIL) Rakesh Wadhawan and his son Sarang in the case.

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The EOW had registered an FIR against senior officials of HDIL and PMC Bank for allegedly causing losses to the tune of Rs 4,355.43 crore to the bank. Property of Rs 3,500 crore belonging to the company was also seized by the agency.

Based on a complaint filed by the RBI-appointed administrator of the bank, the EOW has registered the First Information Report under IPC sections 409 (criminal breach of trust by a banker), 420 (cheating), and 465, 466 and 471 (related to forgery) along with 120 (b) (criminal conspiracy).

The FIR named former PMC Bank chairman Waryam Singh, Thomas and other senior officials, besides the Wadhawan duo.

(With PTI and ANI inputs)

Posted By: Aalok Sensharma