NCUI states that the PMC Bank depositors should be able to get back deposits
The government is trying their level best to bring stability to the economy even during the pandemic. During the last week on Friday, approval was given by the Reserve Bank of India, which is called “in principle “, so that the taking over of PMC bank limited can be done quickly.
Given this, the PMC Bank is showing interest in inviting the original industries to invest and participate in the reconstruction of the PMC bank and have also got four types of proposals from different sources.
There are different types of suspicious things that have been noticed in the year 2019. The board of the PMC was taken under the eyes of suspicion. Based on this, few restrictions have been implemented in which some capping has been implemented for the withdrawal by the customers. The customers were advised to take back their deposits without any kind of condition.
This wouldn’t have been done, but some are keeping away information on financial fluctuations and providing loans to the real estate company HDIL.
The president of the National Federation of urban cooperative Bank and credit societies limited, Mr Jyotindra Mehta, have said that there must be some penalty the punishment for these kinds of fraudulent activities due to which the financial sector suffers a lot, and this has been done to safeguard the cooperative Bank and most of the hands are getting involved. They should be joined to bring stability to the economy, which is a good sign right now.