Will Discuss PMC Bank Issue With Prime Minister: Fadnavis Tells Depositors
Maharashtra Chief Minister Devendra Fadnavis addressing a public meeting this evening at Pimpri Chinchwad in Pune district. (Source: Verified Twitter account of CM Devendra Fadnavis)

Will Discuss PMC Bank Issue With Prime Minister: Fadnavis Tells Depositors

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Maharashtra Chief Minister Devendra Fadnavis has assured depositors of the scam-hit Punjab and Maharashtra Cooperative Bank that he would discuss the issue with Prime Minister Narendra Modi when he meets him on Oct. 13.

A group of Punjab and Maharashtra Cooperative Bank customers met Fadnavis on Friday after an election rally he addressed at Thane to campaign for BJP candidate and sitting member of legislative assembly Sanjay Kelkar.

Aggrieved depositors put forth their woes to the CM, who gave them a patient hearing, but said he could not give them any assurance as the model code of conduct was in force. Fadnavis said he would be meeting Modi on Oct. 13, and he had already prepared a brief on the PMC Bank issue for the meeting.

Also read: PMC Bank Case: How Easy Is It To Manipulate The Core Banking System?

"After the elections on Oct. 21, we will follow up on this issue and ensure that the bank is bailed out at any cost. It will not meet the same fate as the other co-operative banks," he said.

PMC Bank is facing a crisis after an alleged Rs 4,500 crore scam came to light last month. The RBI has capped withdrawals from the bank at Rs 1,000 and later increased it to Rs 25,000 following protests by depositors. The bank had allegedly lent over 70 percent of its Rs 9,000 crore in loans to near-bankrupt realty player Housing Development and Infrastructure Ltd.

Also read: RBI Central Board Discusses Regulatory Framework Of Cooperative Banks Amid PMC Bank Scam

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