Union Finance Minister Nirmala Sitharaman on Thursday satisfied the aggrieved customers of Punjab and Maharashtra Co-operative Bank. Following the protests from depositors in the Punjab Maharashtra Co-operative (PMC) Bank scam case, a number of agitated depositors had barged into the BJP’s Mumbai office on Thursday before Sitharaman’s trip to the workplace.

Union Finance Minister Nirmala Sitharaman on Thursday satisfied the aggrieved customers of Punjab and Maharashtra Co-operative Bank. Following the protests from depositors in the Punjab Maharashtra Co-operative (PMC) Bank scam case, a number of agitated depositors had barged into the BJP’s Mumbai office on Thursday before Sitharaman’s trip to the workplace.

Sitharaman, who had been to hold a press conference on the Maharashtra electionshad to delay the press briefing and spoke to the protesters. She assured them that she’d talk to RBI Governor Shaktikanta Das about allowing PMC customers to withdraw their cash and communicate to him that the urgency of the subject.

Once more this evening, I will speak to him (RBI‚ÄČgovernor) and convey the feeling of urgency and distress that the customers of PMC have expressed earlier me and I will ask him to expedite the clearing of or giving permission for withdrawal due to the currencies that are deposited,” the minister said.

Sitharaman stated she explained to PMC bank clients that RBI is performing what is to be done by law.

“Finance Ministry may not have anything to do with it (PMC bank issue ) directly because RBI is your regulator. However from my side, I have asked the secretaries of my own ministry to use Rural Development Ministry & Urban Development Ministry to research in detail in regards to what is occurring,” Sitharaman said.

She, however, added stated that the government will actively engage with concerned authorities to resolve the problems that customers of PMC are confronting. The finance ministry also suggested that the government, after studying the PMC Bank fraud in detail, could develop a new amendment to curb these incidents of fraud at the winter session of the parliament.

I have asked the secretaries of this ministry to examine in detail in regards to what is happening. Agents of RBI will even be there to know flaws, what occurred, and to so, if necessary, look at the methods in which the individual Acts will have to be deciphered,” Sitharaman explained.
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